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