The last quarter was a big one for GPS. The GPS Development team settled several loans which certainly kept us busy! The best part about this busy period, was that amongst the borrowers that we signed on, we had a couple of repeat borrowers come back to GPS for their next project.
At GPS we strive to always provide the best possible service and we aim for that to be one of the many benefits of dealing with an experienced, family run private lender instead of a big bank. It is such a great sign of encouragement to our Portfolio Managers when a borrower comes back and wants to work with us on their next project. With GPS’s ability to handle loans up to and around $20M we hope that we can be of assistance to our borrowers for many of their projects.
Here is a summary of what last quarter looked like for GPS:
- Memorial Ave, COTTON TREE – 71.42% LVR, $7.5M for 6x apartments
- Greensill Rd, ALBANY CREEK – $1.9M land facility for future development
- Greensill Rd, ALBANY CREEK – 66.12% LVR, $14M for 28x townhouses
- Wellesley St, WELLINGTON POINT – 72.55% LVR, $6.3M for 9x apartments
- White St, VICTORIA POINT – $1.2M land facility for existing borrower
- Rankin St, INDOOROOPILLY – 68.78% LVR, $5.4M for 7x townhouses
This quarter is shaping up to be just as big as we welcome back those famous QLD summers and the Christmas/New Year period (yes, it is scary how quickly that came around!). We are kicking off the quarter with our Inaugural borrower event at the end of the month. For all current borrowers we are hosting an afternoon of drinks and snacks so we can chat all things developing, and industry professionals can seek advice, assurance or a friendly ear from others battling the industry changes. Our full lending team along with Managing Director Richard Woodhead will be there so it should be a fantastic night.
Besides the socializing, we also have a pipeline full of loans that are aiming for settlement before the end of the year. Everyone wants to get groundwork done before another summer of rain, so we are here to assist get the process moving as quickly as possible. The experience of our GPS Portfolio Managers means that we can accommodate a host of things that make us a more flexible option if your situation is out of the box, or you need that settlement quickly.
Check out what we can do by contacting our Managing Director Richard Woodhead on 0427 574 246 or 07 3154 0022.
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