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708

Club

No.1 Hansen Road

Queenstown, New Zealand

Product Type

Property Loan

Interest Rate

12% p.a

Payment

Monthly

Max LVR

75%

Summary

No.1 Hansen Road presents over 34,000m2 of prime vacant land in Queenstown NZ, set against the backdrop of the beautiful Remarkable Mountains.

Situated just 1.4 km from Queenstown Airport and a mere 12 minutes from Queenstown’s Centre, the site is ‘Local Shopping Centre Zoned’ as an appropriately located mixed-use centre that will provide for the community.

The property has been successfully approved for subdivision into 15 lots

The extreme shortage of worker accommodation in the Queenstown area is a well-known fact, with overcrowded rental properties, people living in cars, and hostel room rate cost escalation. Almost three quarters of Queenstown Lakes businesses have said the availability of staff accommodation is more than just a minor issue for their business*.

The spatial layout plan of the land at No.1 Hansen Road enables development to provide for a mix of residential, retail, offices, and car storage, which will provide for local residents and visitors, and assist with the economic viability of the area.

*Pulse check by Queenstown Business Chamber of Commerce, 30/31 January 2023, 82 respondents. Site plan indicative only

Hansen Rd Investment 2nd Mortgage Property Loan

Sophisticated Investors

To be considered for this investment product; applicants must supply evidence they qualify as a Sophisticated Investor

Investment Terms

Interest Rate

12% p.a

Payment

Monthly

Max LVR

75%

Borrower
No. 1 Hansen Road Limited
Property valuation
The property comprising 15 lots has been independently valued at ~$73.8m NZD, based on completion of the carpark building, including 2 upper floors of residential apartments, and the other subdivided lots as-is
Investment Loan
Bridging Loan to support working capital during construction of Stage 2 (2 residential floors), and preliminary design and planning for Stage 3
Interest
12% p.a., payable to investors monthly
Loan Maturity
30 September 2024
Max LVR
75%
Investment Close
31 October 2023
Minimum Investment
AUD$50,000 (open only to sophisticated investors within the meaning of section 708(8) of the Corporations Act)
Exit Strategy
Refinance with senior investment
Loan Repayment
Early repayment allowed, subject to a minimum 6-month interest period in the event of an early payout
Loan Security
2nd Ranking Secured Loan Facility comprising an all asset charge over the Borrower, behind land and construction finance of up to $40m NZD
Product Code
HANS12P2309
Hansen Road Secured Property Loan Income Paying Investment

Project Progression

2024 Onward
Design and planning works for Stage 3
October 2024
Construction completion of residential levels above car storage
September 2024
New investor loans reach maturity
January 2024
Construction commencement for residential levels above car storage
December 2023

Approval for Stage 3 anticipated to be issued

New loan facility now open to investors

New loan now open to investors

Proceeds used to support working capital during construction of Stage 2 (2 residential floors), and preliminary design and planning for Stage 3

August 2023
Resource Consent granted for commercial level above car storage
February 2023
Referral application documents issued to Ministry for the Environment (Stage 3 - Worker accommodation on the remaining lots)
October 2022
Car storage building construction commenced
July 2022

Infrastructure and siteworks commenced

June 2022

Fixed price contract with CMP Construction secured

Carpark pre-sales exhausted. All spaces offered pre-sold and 10% deposits received

April 2022
Construction Resource Consent granted by QLDC
October 2021
Subdivision into 15 lots granted by Queenstown Lakes District Council (QLDC)
2024 Onward
October 2024
September 2024
January 2024
December 2023
Now
August 2023
February 2023
October 2022
July 2022
June 2022
April 2022
October 2021
2309.Hansen Road 2nd Mortgage Property Loan Divider _1
Secured Property Loan Interest Paying

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