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.
For expert advice:
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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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