Master Planned Development, Auckland

A two-stage, 39-unit townhouse project delivered with flexible, presale-free funding from ASAP Finance

Located in the heart of Flat Bush and adjacent to a peaceful reserve, this ambitious townhouse development comprises 39 architecturally designed units across two and three levels. The site was originally acquired from Panuku Development Auckland, and the design has already been recognised with a Master Builders Commercial Project award.

The developer approached the project with a clear objective: build to sell. However, with shifting market conditions and growing buyer uncertainty, they have retained flexibility to hold on to select units if needed – a strategy made possible, in part, by the lending structure and ongoing support from ASAP Finance.

“We always knew we’d need a funding partner who could think beyond the spreadsheet. Someone who understood real-world development, not just risk ratios.”

The Funding Challenge

With civil works for Stage 1 ready to begin, the priority was to secure a lender who could provide:

– A facility large enough to support multiple stages
– Flexible milestone-based drawdowns
– No requirement for pre-sales
– A practical approach to documentation and approvals

“We weren’t looking for the cheapest money. We were looking for the right structure – and someone we could trust to go the distance with us. ASAP had already helped us on a previous project, and that experience gave us confidence to engage again.”

Working alongside a mortgage broker, who had a decade-long relationship with the borrower, the team re-engaged ASAP Finance based on past performance, deep industry knowledge, and flexibility.

What Made ASAP Stand Out

Several key features set ASAP apart from other funding options:

• Milestone Flexibility: “The drawdown schedule was tailored around civil works, 223 certification, and 224c stages. That sort of flexibility isn’t something you get with mainstream lenders.”
• No Presale Requirement: “This was critical. In a slow market, pre-sales can kill a project before it even begins. ASAP’s ability to fund without pre-sales gave us the green light to start.”
• Higher Lending Capacity: “The maximum facility amount was higher than what other lenders could offer, which meant we could move ahead without delays or complicated bridging structures.”

While pricing was slightly higher than some alternatives, the developer notes that the total value equation – speed, certainty, responsiveness, and support – more than justified the choice.

“You can spend months chasing slightly cheaper money and lose hundreds of thousands in holding costs and momentum. Or you can work with someone who gets it and get on with building. That’s the difference with ASAP.”

Tailored Support – Beyond the Loan

What surprised and impressed the client most was the hands-on nature of ASAP’s involvement.

From the outset, ASAP provided assistance not just in funding, but also in structuring the project, recommending contractors, and arranging bridging finance to seamlessly transition into Stage 2.

“They helped us connect with a reputable building partner, Treasure Homes – that alone saved us time and reduced risk. They also allowed us to commence Stage 2 earlier than planned by arranging bridging finance quickly. That wouldn’t happen with most lenders.”

The in-house valuation and QS process also enabled faster progress payments and eliminated the need for third-party consultants.

“No delays waiting for independent QS sign-off – their internal team managed it all. That speed made a huge difference.”

Relationship & Communication

From day one, the relationship with the lending manager was described as open, transparent, and highly responsive.

“Even when he was away or on break, I could get hold of him. The communication was always clear, and nothing ever felt like a black box process.”

When asked if anything could have improved the process, the borrower replied:

“Honestly, not much. Maybe lower interest rates – but even then, I’d still choose ASAP because the service and flexibility made life so much easier.”

Outcome & Impact

Stage 1 of the project was completed smoothly, despite headwinds in the market. When it became clear that selling down units would take longer than expected, ASAP’s proactive support ensured there was no disruption.

“Stage 1 wrapped up just as the market softened, but we didn’t get stuck. ASAP stepped in with bridging finance so we could push ahead with Stage 2 without delay. That kind of proactive funding support is rare.”

Looking back, the developer credits ASAP with not only providing the capital but also helping them navigate timing, build relationships, and maintain project momentum.

Final Thoughts

“Would I work with ASAP again? 100%. I already have, and I’ve referred them to several others. They’re hassle-free, solution-focused, and actually understand how development works. Working with them has made my life easier – not just professionally, but personally.”

“ASAP gave us flexibility, certainty, and the ability to focus on delivery – not chasing paperwork or waiting on approvals. That’s worth more than the cheapest rate on paper.”