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 current raise for $205,000 will be used for the next phase of construction.
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. For developers navigating similar suburban builds, Faster Access to Finance for SME Developers can be critical in maintaining momentum across phases, and having clear Questions for Your Finance Broker ready early often streamlines approvals.
Exit strategy
The dwellings will be sold upon completion. This aligns with a standard end-of-project repayment pathway, and if required, can be supported by Development Exit Finance to bridge completion to settlement.
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.