property type: Commercial
Total Property Value: $4,080,000
Loan Amount: $2,150,000
Priority: 1st mortgage
Note Interest Rate: 6.50%
Term (Months): 12
Term Remaining (Months): 9
Use of Funds: Property related expense
Description: Acquisition of 11 Stratton Street, Newstead QLD
Why do we like this loan?
The commercial premises are freestanding, located in a strong location offering a flexible space, suitable to multiple business operators, and with potential for further development.
Primary Property Value: $3,200,000
A 1st mortgage over a two-storey freestanding commercial premises of 815 sqm in the waterside suburb of Newstead with the addition of a collateral 2nd mortgage over residential security over a 3 bed, 3 bath apartment in Fortitude Valley
12 month bridging loan with 9 months interest prepaid and 3 months serviced from income