Dora Creek, NSW

First mortgage funding in the sum of $34,125,000 is required to assist with a refinance of the security property. This investment opportunity is secured by a first registered mortgage over the security properties, a general security agreement over the borrower, a personal guarantee by the director of the borrower company and guarantees from the corporate guarantor.

The security property comprises 22.18 hectares (55.45 acres) of Development Land located on the NSW Central Coast township of Dora Creek, NSW. The development will provide 245 x residential lots across Stage 2 (94 Lots) and Stage 3 (151 lots).

Stage 2 is in the advanced stages of construction with civil works having been completed and Stage 3 is currently under construction with civil works in progress, with the cost to complete $19,553,116. Stages 2 & 3 will comprise a minimum lot area of 291sqm and a maximum lot area of 1,580sqm, providing an average lot area of 520sqm.

The security property has been independently valued at:

• $52,500,000 “As Is” (GST Exclusive)
• $108,937,075 “As If Complete” (GST Exclusive) per M3 Property valuers report dated 2 December 2024.

The Lending ratio (LVR) is as follows:

• 65% “As Is”
• 31% “As Is Complete”

Features of the property include:

• Zoned R2 Low-Density Residential and C2 Environmental Conservation pursuant to the Lake Macquarie Local Environment Plan (LEP) 2014.
• Local Government Authority (LGA): City of Lake Macquarie.

The subject property is well positioned in Dora Creek within proximity to existing public transport, amenities and major transport nodes. Other notable landmarks include:

• 40km South of Newcastle CBD
• 47km North of Gosford
• 124km North of Sydney CBD