Various Sites – north and mid NSW Coast
Client: ANZ Banking Group
Description: The Bank had exposure to a large residential sub division, with the developer seeking additional funds to advance a particular component of this scheme.
In order for the Bank to assess the risk a report was required setting out the planning status of the various sub divisions of the developer (which are geographically spread over the north and mid NSW coast and being dealt with by various Council’s and the Minister with guidance as to the likely timescale the planning applications for rezoning and sub division would take, the probable outcome, the risks etc.
Most of these developments were funded by other financial institutions but the holistic picture of when the developer would be able to achieve sales on all its projects was required to assess the risk.
Completion Date: June 2010