Construction Finance UniQ Case Studies

Since it’s inception, UniQ Finance Australia has presided over a vast variety of Construction finance requirements.  Here are some case studies:

Herbert Street, Northcote VICTORIA

This client approached UniQ Finance Australia with no development history seeking a total funding solution for a land take out and subsequent development funding.  The project was a 14 townhouse development in Melbourne’s northern suburbs.

UniQ Finance Australia approached an institutional lender and procured the refinance of the land at an LVR of 74.00% of the “as is” land value.  We further procured the construction finance at 88% of total development cost which equated to 75% of the “Gross Realisation” valuation on a straight first mortgage basis.

Beatie Street, Balmain, NSW

Even with many years of experience in both building and development, the client was having difficulty funding their development in Balmain NSW.  Several institutional lenders were not able to deliver on the clients requirements.  The client felt that they would do themselves an injustice by selling off the plan and would realise a greater value by selling the subject 6 townhouses on completion of the development.

UniQ Finance Australia secured facility with a blend of a first and second mortgage.  The first mortgage was secured at 66.67% and the second mortgage was secured at 75% of Gross Realisation.  More importantly there was no requirement for any pre sales which was a driving factor in the funding requirements.

Porter Street, Templestowe

While this client had some experience in property development, they were previously accustomed to smaller scale projects. We were required to assist with the land acquisition and provide a construction funding solution within a tight time frame to ensure that settlements dates were adhered to.

We were able to secure finance on the land at 75% of the land value and 75% of the Gross realisation on the project.  This meant that the client was not required to fund any part of the construction as 100% finance was procured for the construction phase.

South Yarra, Victoria – Mezzanine Finance

Having secured funding for the land settlement and construction of the subject development, the client required additional funding in order to obtain the required pre sales to commence construction.  UniQ was approached to procure a second mortgage (mezzanine) facility up to an LVR of 85% of the land value.

UniQ facilitated the procuration of a second mortgage facility through it’s private and trust fund channels and delivered a product with capitalised interest and fees while achieving an overall LVR of 90% of the land valuation.

Elsternwick, Victoria

We were appointed to provide a funding package that included both debt and equity. At the same time the client required limited pre sales as he intended retaining 70% of completed apartments to form part of his personal investment property portfolio.

We provided a two-part facility. The lender became a participant in the project and provided the equity required to settle the land and complete the construction.  In addition, the lender provided the second part of the facility being the take out facility upon issuance of the certificate of occupancy.  The second facility was provided with no additional fees and a decrease in the interest rate.