Boutique office warehouses

The Borrower approached Balmain seeking construction funding as owner-builder for 14 boutique office warehouses.

Given this type of project was being aimed at owner-occupiers who typically prefer to view the completed stock before committing, the borrower was seeking the minimum presale debt coverage hurdle.

Balmain was able to provide construction debt at 60% of the Net Realisable Value with qualifying presales representing 25% of debt cover.

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