Commercial Loan – Potts Point NSW – 65% LVR
Potts Point NSW – 65% LVR
Property investor wanted to purchase a commercial property for $5.0m with arms-length leases. He already owned the property adjacent and could see long term development potential.
- Client had some previous credit impairment however his current credit status was in order
- His credit impairment had precluded him from obtaining finance from traditional sources
- The property being purchased included a restaurant / nightclub and certain licenses had lapsed
- Development Finance Partners was engaged to provide a funding solution
- Complete a tenancy profile, including WALE and confirm adequate interest cover
- Work with our underwriter to look beyond the previous credit impairment
- Work with Client and underwriter to have the licenses renewed
- Development Finance Partners secured a Private underwriter that was prepared to work with the Client to find a solution
- The licenses were renewed and certain leases extended.
- The Client was able to purchase the property with the help of Development Finance Partners
Could your next project benefit from some expert development finance? Get in touch.
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Sydney NSW 2000
P / 02 8916 6246
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Melbourne VIC 3000
P/ 03 8692 0082
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Brisbane QLD 4001
P / 07 3041 4136
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