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  2. PRESTONS 1, NSW

PRESTONS 1, NSW

Interest rate:   7%pa

LVR:   65%

Loan Term:   12 months

Total Loan:   $4,615,000

Security:   Land

First mortgage investment to fund the acquisition of a large area of land 31km from the Sydney CBD (in the south-western growth corridor). The borrower intends to obtain approval to develop 32 light industrial units across the space. Assisting the borrower in settlement of this property, ARK Capital provided funding that would allow the developer to begin construction in late 2022. Having completed several other similar developments, the borrower is well known to ARK Capital with a strong property development track record.