Over the years we have successfully funded many properties that are to be developed, the following are a small selection for your review:

Our client purchased a property based in Sydney for $138.8M and settled with a $20M facility and the balance covered with equity.

Solution

Our client purchased under option a large parcel of vacant land in south Western Sydney. They required extra funds to exercise option and finalise the settlement of the property.

Since the initial agreement, our client obtained zoning changes to the property and council support for future development, increasing the value of the property.

Solution

GCC provided a land bank finance facilty with a 65% LVR on the current value of the property which represented over 80% of purchase price.

Our client was looking to purchase a residential property which would be used as a future development site.

The client planned to settle on the property then obtain DA after acquisition for over 350 dwellings to either sell or occupy.

Solution

We provided a 12-month land bank finance facility at 65% LVR of purchase price at market leading rates all within the requested timeframe.

Our Borrower was looking to raise funds against an Industrial property situated in an inner west suburb of Sydney to allow for the repayment of the existing first mortgage ($2.5M) and to raise an additional $2M to assist with preliminary costs associated with the proposed development of a 10 storey mixed use building including basement parking and public domain improvements which would net a GRV of approx $90M.

Proposed facility term is 12 months during which time all necessary pre-sales and development preliminaries are expected to be completed which will allow for an orderly refi of this facility via a construction facility.

Solution

The borrower had current financials however the serviceability was below what the banks consider acceptable and more importantly there was a significant cash out portion of the facility, as such a private credit facility was required.

We provided a land bank finance facility to an LVR of 60%.

Our client purchased 2 residential houses under option. During the option period he obtained DA approval for a mixed-use development with retail and 40 apartments of 7 levels.

Solution

This type of scenario is very common to us and we quickly provided a land bank finance facility which allowed for sufficient time to obtain pre-sales and progress to a construction facility.

Our client sought to “land bank” a development site in Adelaide pending commencement of a sixty unit residential apartment complex.

A facility was required to repay an existing first mortgage and provide a level of working capital for the pre construction component of the proposed project.

Solution

We were approached to assist with the purchase of the final stage of the residential development site (Englobo Land) for a property located in Melbourne, Victoria and provide additional funding to cover infrastructure works. Total Consideration for the purchase was $120m.

Solution

We provided a land bank finance fgacility $84.5M which allowed for the land settlement and all associated costs including infrastructure works for 12 months.

Our client requested funding to assist with the purchase and development funding for a 280 lot, DA approved land subdivision project in SE Queensland.

Solution

We provided a facility for the purchase and multi-staged development of the property, including Mezz funding to assist with clients equity contribution. Presale hurdle was set at 25%, with gradual takeup.

Our client required urgent funds to settle a development site.

They were talking to a lender who made promises however the settlement date came and went and the vendors, in frustration, issued a notice to complete.

Solution

We provided a land bank finance facility, received the valuation, issued mortgage docs and settled in 4 business days.

We were approached via the website with an urgent scenario that had a high business risk assessment by the owner.

He already owned the business and building next door that was part of an entertainment complex.

Purchasing next door was going guarantee his current business wouldn’t be disrupted.

At this stage the vendor was about to issue a notice to complete and our client would lose his deposit and suffer further hardship.

Solution

we provided a facility of $8M.

We were referred to a company by a client that was having difficulties with its current lender due to changes in lending policy.

Nothing was premediated and was totally unexpected and would have devastating consequences.

The client was an aged care facility in Hastings that had no vacancies and had just won a tender to expand and increase beds.

They had recently purchased two properties next door and had paid a deposit that was now in jeopardy. It was also understood the under bidder was ready to step in.

Solution

While it wasn’t a simple transaction on paper giving it the due diligence it deserved by GCC and looking at future earnings we were able to organise funding within days due to a team effort by all parties.

Our client had recently completed a subdivision of a development site on the Esplanade. The subdivision created 6 new lots comprised of 6 town houses.

The vendor has retained the original house, while the client retains the 6-town home.

The Development funding for the subdivision was facilitated by GCC who sourced a capital partner following pre-sales equating to 100% debt cover being achieved.

Solution

GCC had previously provided the construction finance for the six townhouses development and the original site.

GCC agreed with the client that an urgent short-term solution was required to settle the deal. Based on the brief from the client and the issue around the critical deadline.