Case Study Category: Case Study

An 11-townhouse development in East Auckland required funding to move from the consent stage to full construction commencement. While the client had already secured Resource Consent (RC) and Earthworks Approval (EPA), the Building Consent (BC) was still pending. With an independent builder engaged and early costings in place, the developer needed a lender who could structure a facility to support early-stage activity while accommodating flexibility around final build costs and timing.

90 residential Lots (including Super Lots) located in Hobsonville Point, Auckland. The subdivided sections were unencumbered, and the client required funding to complete the construction of houses across the wider group. An on-demand cashflow facility was provided to enable the group to meet cashflow obligations.

A large block of residential land located in North Auckland required a flexible funding solution to allow the borrower to complete resource consenting for a future subdivision. The land was strategically located in a high-growth corridor, with strong residential demand and favourable zoning, but the client needed to unlock capital to progress the planning phase.

ASAP Finance provided a Land Bank Facility structured to refinance the existing mortgage, fund the consenting process, and capitalise all interest and fees—allowing the client to move through the subdivision consent phase without cashflow pressure.

A client was in the process of selling a residential investment property, when settlement was called on the commercial property he had recently purchased in Te Aro, Wellington. A 3-month bridging loan (secured against both properties) was provided to enable the client to meet his settlement obligations while he completed the sale process for his residential investment property. No valuations were required.

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.

A six-level commercial office building in Auckland CBD. A commercial property loan was provided to assist with the purchase of the property. Settlement occurred within just 48 hours of receiving the loan application enabling the client to avoid penalty interest and default action. Repayments were on an interest only basis. No valuation was required.

A residential investment property located in Mt Roskill, Auckland. The ‘low doc’ loan facility was approved with limited financial information provided by the client. Repayments were to be made on an interest-only basis. No valuation was required.

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.

A section purchase and construction of a single house within a greenfield subdivision in Flat Bush, Auckland. The construction loan included capitalised interest and fees with no repayments required during the build. Funding was approved without a fixed price contract in place and no valuation drawdown reports were required – instead, drawdowns were provided based on agreed milestones.

Construction of 29 terraced townhouses, and subsequent subdivision located in Whenuapai, Auckland. The loan facility provided for capitalised interest and fees, and included a revolving GST facility. Funding was provided without any pre-sales or a QS appointed to the project.