Premium Coastal Subdivision
Development Loan
Coromandel
Project details
Loan type
Development
Property type
Elevated residential and rural zoned land holding with prime costal and rural outlooks, consented for a 41-lot subdivision
Loan size
$10m+
Term
20 months
Loan to Value Ratio
65%
Pre Sale Ratio
70%
Property size
41 residential lots ranging from 1,075sqm to 6,467sqm, plus a 24.5ha residual lot
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A subdivision beyond compare, with breathtaking coastal views
Standing atop this bare land site, it was hard to not want to get involved in transforming it into a future home to more than 40 families – where every day would feel like you’re on holiday.
This was no simple subdivision – the shape of the land commanded a hefty amount of earthworks and contouring, retaining walls and treatment of stormwater. The end product is a feat of engineering, yet is sympathetic with the rural surrounds. And those views…
Killarney Capital backed our clients through the highs and lows of a complex subdivision, providing ongoing support through to completion of what is a truly spectacular development.