This project consists of 18-townhouses; all configured to four bedrooms, three bathrooms and a double lockup garage. Townhouses have internal living areas of between 181 and 210 square meters. An internal road provides for vehicle circulation, with landscaping, refuse area, car wash bay and five visitor car parking bays. Sale prices were between $639,000 and $699,000 and sold promptly. The build was coordinated well, and completion expected in October 2024, with presales to settle once titles are complete.
Our client required a bespoke financing solution for this project, consisting of a flexible first mortgage, which was subordinated to a second registered mortgage or mezzanine finance once the construction facility commenced. We utilised a contributory loan of private lenders to aide flexibility and allow for a higher leveraged solution for the development.
project details
