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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