Our client recently completed a 11 unit luxury residential apartment building in Sydney’s Inner West. Given the level of fitting for the apartments it was planned to start selling the units upon completion as that would obtain a better price. GCC originally funded the proposal via a private non-bank fund with no pre-sale requirements, so this was workable.

Through construction there was cost overruns in the several of millions so upon completion the lender was hesitant to keep capitalising interest as the LVR’s were starting to top out.

GCC was approached both by the client and the existing lender to provide a suitable solution which would help both parties by exiting the existing lender and providing a more suitable facility to our client so that they could continue selling the units in an orderly fashion and not be burdened with the need to meet interest repayments.

Given that the units were recently completed there was no income that could demonstrate servicing so clearly a private non-bank solution was required.

GCC decided to split the deal up between several lenders as this will have multiple advantages for the borrower such as cheaper rate, higher LVR, cover interest payments and most notably client having the ability to keep the net proceeds of sales rather than 100% of debt reduction.


Facility Amount:$12,385,000

Our client recently completed a residential development in Sydney’s North Shore. The existing lender was not willing to extend the facility.

The borrowers financials did not demonstrate debt serviceability and the units were vacant so a lite doc solution was required. The client was in the process of selling the units and wanted no exit fees as each unit sold.

GCC facilitated an approval through a private lender for 60% LVR with a competitive rate with no exit fees.



Our client recently completed a rural residential subdivision in NSW and his existing banker was unwilling to extend the facility past construction stage as our client could not demonstrate serviceability and there were no pre-sales in place.

Our client also wanted to draw down additional funds for working capital purposes

GCC Successfully settled the proposal with a private non-bank lender with a LVR of 65% which included 12 months pre-paid interest within the facility.



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