*The loan has been repaid in full on the date of maturity, and LVR of on an "as-is-market" basis.
Loan amount
$2,000,000
LVR
70.80%
Loan period
24 Months
Loan types
Vacant land
This project aims to provide a loan facility for land settlement, with a total loan amount of $2,000,000.00. The borrower will provide 1 property located in the Pallara area as the first mortgage. This area of the site is 16,187 square meters, which was permitted by Brisbane City Council to develop residential subdivisions with 23 vacant residential lots.
The size of Pallara is approximately 6.8 square kilometres. It has 1 park. The population of Pallara in 2011 was 614 people. By 2016 the population was 511 showing a population decline of 16.8% in the area during that time. In 2011, 77.4% of the homes in Pallara were owner-occupied compared with 73.6% in 2016. Currently the median sales price of houses in the area is $654,900.