A loan for a Chinese Australian developer was provided for a property on Cross Street in the high end Sydney suburb of Double Bay. White & Partners issued the capital to refinance an existing first mortgage. The borrower is pursuing development approval on a two-storey freestanding neighbourhood commercial complex which has a combination of 21 tenants across 1200sqm of lettable area.
The developer is seeking to construct a 6 storey mixed use development comprising 21 apartments as well as 6 retail lots above 2 levels of basement parking.
The borrower are well known to White & Partners having established an ongoing relationship with Ray White Projects – part of the same family as White & Partners, under the broader White Family Office. As a family office, the borrower, was attracted to the synergies in values of the White Family Office, as well as the team’s ability to offer expertise on related matters to the property including appreciation.