Medowie Woolworths
Address
39 – 47 Ferodale Road
MEDOWIE, NSW
Development
Woolworths
The Developer
BDS 3 Pty Ltd
The Brief
DFP and its team were approached by the developer, whom had legacy issues with its balance sheet, due to its major shareholder becoming financially distressed and therefore the market perception was that the subordinated development company shared the same issues. The developer, to further complicate matters had funded significant works to the site and required to be reimbursed those funds, which provided an LVR of 83% on completion.
The Solution
DFP’s Project Sydney Director Baxter Gamble worked in partnership with the clients to secure funding from a significant off shore lender, looking to further establish its credential’s in the Australian market. Funding was provided at the required level (83% of GRV) on a cost to complete basis, with an anticipated hand over date to Woolworths in May 2014.
Loan Amount
$13,700,000
End Value
$16,400,000
For expert advice:
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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