Office space construction with no pre-commitments

The Developer wanted to commence construction on a new office space building without the requirement of having to obtain pre-committed tenants as this would delay the tight construction schedule. Even with the short build time of nine months and a low loan-to-value ratio (LVR) of 50%, no banks or second-tier lenders could fund without pre-commitments.

The Developer contacted Balmain who assisted with arranging a construction facility at very competitive rates, no line-fees, and an extended Term (with interest capitalised in the Loan amount) to allow the Developer additional time to lease the property post construction.