*The loan has been repaid in full on the date of maturity, and LVR of on an "as-is-market" basis.
Loan amount
$5,400,000
LVR
70.59%
Loan period
12 months
Loan types
Residential properties
This project aims to provide a loan facility for property settlement, with a total loan amount of $5,400,000.00. The borrower will provide 1 property located in the Surfers Paradise area as the first mortgage. This area of the site is 1,890 square meters, which was permitted by Gold Coast City Council to develop 192 apartments.
Surfers Paradise is a well-established and recognised tourist destination and provides a diverse range of hotel accommodation, retail uses taverns as well as commercial and residential buildings.