This project aims to provide a loan facility for refinance, with a total loan amount of $6,375,000.00. The borrower will provide 1 property located in the Rochedale area as the first mortgage. This area of the site is 19,014 square meters, which was permitted by Brisbane City Council to develop residential subdivisions with 23 vacant residential lots.
The size of Rochedale is approximately 15 square kilometres. It has 14 parks covering nearly 2.4% of total area. The population of Rochedale in 2011 was 1,091 people. By 2016 the population was 3171 showing a population growth of190.7% in the area during that time. In 2011, 72.4% of the homes in Rochedale were owner-occupied compared with 80.1% in 2016. Currently, the median sales price of houses in the area is $1.770.000.