Our client sought to raise funds to facilitate refinance of an existing facility of $656K against Strata Commercial office suites in Brookvale, NSW.

The borrowing entity comprised 10 SMSF’s which necessitated the transaction being entered into on a non-recourse basis.

Whilst rental income from the security property provided satisfactory debt servicing, the transaction needed to be placed outside normal banking channels.

Solution
We facilitated a non recourse SMSF finance facility via one of our private non-bank lender who was prepared to advance without the need for Director’s guarantees.

Amount:$650,000
LVR:65%

Our client sought to raise funds against two Strata Commercial office suites in Melbourne, Vic.

Funds were required to allow for the repayment of Bankwest ($255K), to cover an ATO payment ($162K), a Stamp Duty liability ($58K) and allow for retirement of some inter-company debt ($125K).

There were a number of issues relating to a Trust structure that made it preferable for the borrowing to be on a non-recourse basis with security to be provided by way of a freehold mortgage only.

In view of the nature of the borrowing and notwithstanding stand-alone debt servicing from rental income, it was not possible to place through an institutional lender so a non-bank solution was required.

Solution
We delivered a SMSF facility through a private lender based on an LVR of 65% of the value of the property without the need for Director’s guarantees.

Amount:$600,000
LVR:65%

Our client had completed a commercial development project comprising of 2 properties at Wollongong. The development company then had a change of ownership to be owned by a unit trust with 50% shareholding in client’s SMSF and the remaining 50% share by individual SMSF members.

Our client had secured 5 x 5 year arm’s length leases at market rates with well-established tenants. Due to the ownership structure their bank required the facility to be repaid.

Solution
GCC understood the situation and successfully secured funding at favourable terms. Servicing was based on the rental income on a stand-alone basis.

Amount:$1,000,000
LVR:50%

Our Clients were professionals seeking funding to purchase freehold of an existing child care centre on Gold Coast QLD. The vendors retained the business and entered into a long-term lease with the purchasers.

Solution
Notwithstanding the specialised nature of the security property we facilitated non-recourse facility with a mainstream bank.

Amount:$960,000
LVR:65%

Clients owned and operated leasehold pub in high country NSW, with the opportunity to purchase the freehold for $2.3 mill and secure their future. Client’s were advised by their accountant to purchase the hotel in their super fund.

In addition to the SMSF loan clients required additional funds raised by the trading entity secured against the leasehold and assets such as plant and equipment, pokie machines etc to complete the purchase.

Solution
We facilitated a SMSF loan of $1 mill against the freehold with a non bank funder and $550,000 to the trading entity against the leasehold assets including pokie machines.

Amount:$1,550,000
LVR:50%

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