Lifestyle Subdivision
Central Otago
Project details
Loan type
Development
Property type
Lifestyle residential sections within a farm park setting including a common-use recreation area
Loan size
$1-3m
Term
18 months
Loan to Value Ratio
45%
Pre Sale Ratio
45%
Property size
15 sections ranging from 3 to 13 hectares
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Generous sized Central Otago sections surrounded by endless recreation opportunities
If stunning vistas are what you are looking for, it is hard to go past Central Otago in terms of location. This lifestyle subdivision created 15 new sections of varying sizes, catering for the more active resident with a 46 hectare reservation reserve including a 3km loop walking track.
Our clients were highly experienced in key aspects of development – project management, finance and accounting, and sales – giving Killarney Capital confidence with accepting borrower self-certified monthly drawdown claims. A reasonably low pre-sale threshold was also set in recognition of a low loan to value ratio and the capability of the project team to manage costs.