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.
Could your next project benefit from some expert development finance? Get in touch.
Sydney Office
Level 3, 31 Alfred St
Sydney NSW 2000
P / 02 8916 6246
Melbourne Office
Level 30/35 Collins Street,
Melbourne VIC 3000
P/ 03 8692 0082
Brisbane Office
Level 18, 175 Eagle Street
Brisbane QLD 4001
P / 07 3041 4136
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