Our clients acquired a development site at one of Sydney’s top beaches under an option agreement for a delayed settlement.
In the interim, our client obtained approval to construct thirty five apartments.
Our client had an approval from a bank, however at the last moment the bank informed our client that they could not settle on the land.
Solution
IKON Capital was successful in settling the land with a 7 day turnaround, for a facility of $13.45M for a period of 6 months – representing an LVR of 60%.
* Facility Amount: $13,443,000
* LVR: 60%
