10 Abalone Ave and 30 Victor Ave, Paradise Point

Borrower: Collimore and Stockwell Developments Pty Ltd as trustees for the Collimore and Stockwell Developments Unit Trust
GPS loan amount: $9,361,500
LVR:  69.95%
Maturity Date: July 2026

Construction of 8 x 3 bedroom residential townhouses across two development sites.

To be known as “Villas on Abalone”. This project lies in the well-established beachside community of Paradise Point, just 12km from the central Gold Coast. The borrower for this project was first referred to GPS Development Finance by a builder who is well-known to us.

The development will offer future residents easterly aspects towards the Broadwater and is based less than one residential block from The Esplanade waterfront drive. The site is within close proximity to local grocery, medical, retail, and commercial facilities.