Vacant industrial land located at Tauriko Business Estate, Tauranga. The industrial property loan was provided as a ‘bridge’ to enable the client to complete a restructure of its group debt currently with a main bank. The client would eventually build a warehouse on the site. Repayments were on an interest-only basis. No valuation was required.
| Loan: | $5,000,000 |
| End Value: | $7,500,000 |
| Loan-to-value: | 67% |
| Term: | 6 Months |