Strategy & vision
Developer Fergus Stokes is seeking construction financing for 3 x three bedroom premium townhouses on a 834sqm site situated in Towradgi, a beach side suburb in north Wollongong. The initial loan of $1,443,294 will be used to refinance into the construction phase now planning approval has been granted. The construction phase is expected to last 15 months, during which investors in the initial loan will have the first opportunity to reinvest should they choose to do so.
The site is situated in Towradgi, less than 800m to Towradgi beach, 400m to Towradgi Public School and 1.3km to Corrimal High School. Towradgi is a great pocket of paradise located 5 kilometres north of Wollongong NSW, known for its friendly community atmosphere and beautiful beaches. It offers a mix of housing options, making it suitable for families, retirees, and young professionals. The suburb is well-connected by public transport, with a railway station providing easy access to Wollongong and Sydney. Residents enjoy local amenities such as parks and shops, as well as recreational activities like surfing and coastal walking tracks. Overall, Towradgi combines a relaxed lifestyle with convenient access to urban facilities.
Exit strategy
Refinance into construction once the build approval has been received.
The borrower & project team
Assured Projects Pty Ltd, spearheaded by Fergus Stokes, specialises in acquiring expansive properties in Wollongong with the aim of developing 3 to 7 residences. The company strategically targets CDC lots in established markets and properties with development challenges in burgeoning areas. Drawing upon Fergus’s expertise in engineering and surveying, Assured Projects has successfully executed deals in the Wollongong area.