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 Rd 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.
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 |
The Property | The Borrower owns the property at No. 1 Hansen Road in Frankton, Queenstown, NZ, covering 3.4022ha in a prime location, close to Queenstown airport |
Investment Loan | Bridging Loan to support working capital during the construction of a 3-level carpark |
Interest | 12% p.a., payable monthly |
Loan Maturity | 30th September 2023 |
Max LVR | 75% |
Investment Close | 7th October 2022 |
Minimum Investment | AUD$50,000 (open only to sophisticated investors within the meaning of section 708(8) of the Corporations Act) |
Exit Strategy | Settlement of current sale contracts and/or refinance with senior investment |
Loan Repayment | Early repayment allowed, subject 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 construction finance of up to NZD$27m |
Product Code | HANS12P2209 |
Project Plan & Zoning
The property has been successfully approved for subdivision into 15 lots.
The spatial layout plan enables future 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:
Stage 1
Subdivision of the lots and ‘The Carparks at No.1’ form the first stage of this exciting and thriving hub.
161 car parks and lifestyle lockers will span across a bespoke 3-level building, architecturally designed by Mason and Wales.
Each car space provides an additional lockable lifestyle locker for the storage of bicycles, and sporting or recreational equipment such as golf clubs and skis.
Presales
No other facility of this nature exists in this part of Queenstown, which is demonstrated through exceptional pre-sale demand.
To date, 56 car parks on level 1, and 3 campervan parks on the ground floor have been offered for sale.
All 59 have been pre-sold and deposits of 10% received. Settlements are expected to take place in July 2023.
Project Progression
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CMP Construction offer over 30 years’ experience as a successful Auckland construction company, specialising in large commercial and industrial developments.
