Project details
Loan type
Development
Property type
Mixed-use commercial building offering modern office and retail spaces
Loan size
$3-5m
Term
10 months
Loan to Value Ratio
51%
Property size
2-level commercial building totalling 2,040sqm split across multiple tenancies
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A high street stunner in a bustling town centre
This build-to-hold commercial development breathed new life into the main street of a busy regional Canterbury hub.
With a key anchor tenant locked in for the top floor plus a couple of solid retail leases on the ground floor, Killarney Capital came on board to see the project through from the ground up. The development experience and capability of our client meant we relied on self-certification of construction costs, without the involvement of an independent quantity surveyor.
As building got underway, other prospective tenants soon saw the quality of the development. By the time it was completed there was barely any space left to lease, and our loan was swiftly refinanced to a long-term funder.