Strategy and vision
The loan is for the acquisition of a property at 79 Barney Street, Barney Point, Queensland. The 8,190-square-meter site is currently vacant land with a derelict building. The plan is to develop eight SDA units, a mix of three (3) high-physical support (HPS) and five (5) robust units. The project is a bridging loan for acquisition finance. The total gross loan is $840,000, with a net loan of $793,777. The loan term is six months. Security for the loan includes a registered first mortgage over the property and personal guarantees from Mr. Keefe and Mr. Haggerty. The property is located within Barney Point, which is an established residential area approximately 2.5 kilometres south east of the Gladstone CBD. Local schools and shopping are available in South Gladstone, which is within two (2) kilometres. Within 100 metres of the Wood Street frontage is a rail line which accesses the Port Central area. Opposite the Wood Street frontage is Yow Yeh Park. Barney Point beach is located within 300 metres of the subject. The Barney Point real estate market presents a unique and dynamic economic profile, characterised by high growth and affordability, but also influenced by its industrial surroundings and specific demographic trends. Located in Gladstone, Queensland, the suburb’s economy is closely tied to the region’s industrial base, which includes major facilities like the Gladstone Ports and large-scale manufacturing plants.
Exit strategy
The primary exit plan is to refinance with a construction loan with CrowdProperty.
The borrower and project team
Developers Kane Keefe & Scott Haggerty are experienced builder developer in several sectors, inclusive of SDA. Alliance Building brings extensive experience in construction and property development, with a strong track record in delivering high-quality residential and commercial projects. Their expertise spans project management, stakeholder coordination, and overseeing all stages of the build process, from initial design through to completion. Under their leadership, Alliance Building has developed a reputation for reliability, attention to detail, and client-focused outcomes, ensuring projects are delivered on time, within budget, and to a high standard.