This construction loan was structured into two parts: (i) the purchase of an unconsented block of land in Lincoln, Christchurch, and (ii) construction and associated earthworks for the initial stages of the 120-lot land subdivision. The construction loan included capitalised interest and fees, and a revolving GST facility. 50% presales cover was achieved prior to drawdown from the construction facility.
| Loan: | $19,000,000 |
| End Value: | $29,230,000 |
| Loan-to-value: | 65% |
| Loan-to-cost: | 80% |
| Term: | 12 months + extension |