DA obtained with help of DFP

DA obtained with help of DFP

Englobo Master Plan Illawarra Region, NSW

Issues

• Breach of loan covenants from deteriorated Loan to Value Ratio (LVR)
• Client under Deed of Forebearance, facing appointment of Receivers & Managers
• Regional Englobo land-bank with no approvals
• Proposed Master Plan re-zoning and development application stalled, existing consultant team unable to deliver required results over a number of years
• Part of the site being used for low-grade commercial waste disposal

Development Finance Partner’s scope

• Stabilise relationship with Lender and extend Deed of Forebearance
• Engage top-tier consultancy firm, specialising in planning & environment, to efficiently complete Master Plan and development applications
• Build detailed multi-stage project feasibility and cash flow forecast
• Build multi-staged funding model, setting clear equity and debt requirements
• Manage all communications with Lender

Results

• Lender’s confidence improved significantly
  • Deed of Forebearance consistently extended as required
  • Principle & interest repayments reduced to support planning and approval costs
• Simplified and fast-tracked Council support of initial Neighbourhood Plan without Master Plan approval, allowing stage 1 DA lodgement at fraction of time and cost previously forecast
• Financial modelling completed, subject to approval of first stage DA.

Contact us to see how we can turn your plans into reality.

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