All Topics / Finance / Construction loan

Viewing 4 posts - 1 through 4 (of 4 total)
  • Profile photo of shelenshelen
    Participant
    @shelen
    Join Date: 2007
    Post Count: 7
    June 5, 2007 - 8:55 am

    We have recently found a large (more than 1000 sq m) warehouse. We are thinking about splitting it up into smaller offices/warehouses and either sell or lease them one by one.
    Who would finance such a project? Is it possible to obtain more than 85% loan?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    June 5, 2007 - 10:29 pm

    I think it would be difficult to obtain 85% if the building is presently vacant.

    Richard Taylor | Australia's leading private lender

    Profile photo of shelenshelen
    Participant
    @shelen
    Join Date: 2007
    Post Count: 7
    June 6, 2007 - 1:01 am

    well, the warehouse has a tenant right now, but how would I start construction when they are still inside?

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    June 6, 2007 - 7:10 am

    You wont and hence you wont get 85% LVR.

    Richard Taylor | Australia's leading private lender

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.