DFP helps developer restructure $60m debt and workout
This article was originally published by The Urban Developer on 11 April 2022. It is reproduced here in full without amendment. A construction project that started in 2014 will finally be completed in 2023, thanks to a tenacious developer who refused to give up and the backing of Development Finance Partners. The $80-million mixed-used development […]
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Case Study | Residual Stock – Hampton, VIC
DFP secured a Residual Stock loan for equity cash out, $600k at a 65% LVR, with a new valuation completed and settled in under 3 weeks. Project Background DFP was engaged by the borrower to obtain a first mortgage residual stock facility to provide cash equity out of a single residual apartment in a previous […]
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Case Study | Zero Presales – North Kellyville, NSW
DFP secured a Senior Debt construction loan of $4.5m for site settlement and civil works for the completion of 11 residential allotments at 65% of the Gross Realisation Valuation in North Kellyville, NSW. Project Background The subject project comprised 11 exclusive, ready to build residential land lots where the purchaser is able to choose their […]
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Meet developer Stephen Scutts of Castlerock Capital
Castlerock Capital is a small family-owned company, so it comes as no surprise that Managing Director, Stephen Scutts first learnt about the property game from his Dad, a property lawyer. He watched as his dad completed small developments, mostly townhouses and land subdivisions. Then he began channelling excess cash flow from his own businesses into […]
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Construction recommences on troubled Devwest development in South Perth
This media release was originally published by The Market Herald on 2 March 2022. It is reproduced here in full without amendment. Construction recommences on troubled Devwest development in South Perth South Perth is set to get a new residential and commercial offering, with DevWest starting construction on the One Richardson and the Richardson Centre […]
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Development Finance Partners helps developer keep his Byron Bay dream alive
After his dream project got off to a nightmare start, developer Alasdair Baker of Omira Property Group needed some quick footwork to get it back on track for a profitable outcome. Alasdair Baker was excited when his Omira Property Group managed to secure a prime corner block in a highly sought-after neighbourhood of holiday mecca […]
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Why more developers are choosing zero presales finance
Time is money in property development. Speed to market cuts costs and risks, while delays to a project can impact its profitability or even viability. So it’s no surprise that construction finance which doesn’t require presales is becoming increasingly popular in the industry. Approved and advanced in much shorter time frames than traditional bank finance, […]
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Starting your first project but scared of hidden pitfalls? Here’s 5 tips from an experienced property developer
Managing Director, Stephen Scutt of Castlerock Capital is an experienced property developer, with dozens of projects under his belt. Property is in his blood, his passion stems from being exposed to property transactions from a young age through his father, a property lawyer. Starting with small townhouses and subdivisions, he has completed developments in residential […]
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Case Study | Melbourne, VIC | No Presales Construction Finance
No presales finance, 70% LVR, Suburban Melbourne Background Our client a builder/developer approached Development Finance Partners (DFP) to procure funding for a four level, eight apartment project to be constructed in suburban Melbourne. Challenges The client was seeking a competitive funding package with no presales, where the client’s building company was also to be the […]
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How Student Accommodation Developer Overcame Pandemic Panic
This article was originally published by The Urban Developer on 27 January 2022. It is reproduced here in full without amendment. Castlerock Capitals’ Castle Student Accommodation in Sydney was thriving as a boutique student accommodation in the heart of Newtown for international students—and then the pandemic hit. Although managing director Stephen Scutts moved fast to […]
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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
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Brisbane QLD 4001
P / 07 3041 4136
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