Refurbishment Loans

Refurbishment loans refer to proposals where a developer is looking at purchasing an existing building and refurbishing the building to bring it to a modern level and inturn significantly add value to the property. It may also mean strata titling the property from one title to several smaller titles and selling the units off individually at a higher combined value that would have been the case in selling the building in one line. Refurbishment loans can be suitable to all existing prioperties including residential, commercial, retail, etc.

A classic example of a refurbishment loan is a developer purchases a block of apartments which is currently on one title. The developer will update the property including modernising it with items such as security systems, new appliances, modern fitout etc. The developer will also strata title the individual units and sell them off seperately. This can all be achieved reasonably quickly and as such the funds will be required typically for 6 to 12 months.

GCC can offer a facility of up to 70% of purchase price plus 100% of costs to complete up to a maximum of 75% of GRV at competative pricing.

If you would like to speak to one of our consultants for further information contact Global Capital Commercial on 02 9222 9100 or if you would prefer one of our consultants to contact you please complete and return our one page enquiry form.

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