Commercial Loan – Potts Point NSW – 65% LVR

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.

Issues

• 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

Scope

• 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

 Results

• 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.