A client had quality consultants managing the project and they were wanting to convert a parcel of premium land into a high-end residential development. The owner was retiring and had owned the land for many years so he wanted to capitalise on the demand on a tightly held sort after location. The problem for the bank was simply the client was not a developer, although debt-free, working capital was required, as well as funding to complete the project.
The client engaged an experienced Project Management firm to carry out the Planning Permit approval. ACMF provided working capital in stages:
The client took advantage of the market by marketing the land as home and land packages. Pre-sold 6 lots at a record price with the balance released after completion. They had a great sales result by being able to negotiate the terms to suit the buyer as well as having the project managing firm to manage and oversee report back each month.
Outer Sydney NSW
2017
Land & Construction Finance
$7,100,000
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