The Borrower requested a twelve-month loan facility to assist in funding a small land subdivision in Buderim, QLD. The loan will be secured by an 8 bedroom, 5 bathroom residential property in Bull Creek, WA at a 27% loan to value ratio.

The proposed land subdivision will transform a single residential lot (2,285sqm) into five smaller residential lots. Upon completion, the newly titled lots are expected to sell at an average price of $369,000. The development feasibility has been provided to the Lender and it appears viable and appropriate for the location.

The loan is expected to be repaid via the proceeds generated from the sale of the completed subdivided lots.