Bulli, NSW

property type: Residential
Bulli, NSW

Total Property Value: $2,500,000

Loan Amount: $1,600,000

Priority: 1st mortgage

LVR: 64.00%

Note Interest Rate: 6.50% p.a.

Term (Months): 12

Term Remaining (Months): 10

Postcode: 2516

Use of Funds: Property related expense

Minimum Investment Amount: For more details click here to set up an account

Why do we like this loan?

The property is ideally located for development on a flat block 50m from the beach at Bulli. The Borrowers have considerable development experience and the Guarantors hold interests in 5 other properties in the event of default.

Primary Property Value: $2,500,000

Property Details

5 Alroy Street Bulli is a prime 556 square metre sub-divisible block of land 50m from Sardon Point Beach, Bulli with a DA for two townhouses.

Loan Details

The loan provides funding to complete the development of two townhouses a 5 Alroy Road, Bulli. While we have assessed the build contract and obtained a QS Report this is considered a loan secured against the as-is value of the land without consideration for the Gross Realisable Value.

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