Bank Funding Spotlight on Victoria Residences

White Associates Bank Fundting Team - Victoria Residences

A stunning new 25-level development in the heart of Auckland’s CBD, Victoria Residences, developed by Conrad Properties Group, represents the future of distinguished, high-density, metropolitan living.

Located directly across the road from the iconic Skytower, Victoria Residences offer unparalleled design, convenience and location. The building consists of 161 residences and also offers a high-level of amenity, with an indoor swimming pool and gym for residents, and 9 retail units on the ground level.

Construction for the project is already underway, and 92% of residences are already under contract despite only being on the market for 6 months.

White Associates’ have worked closely with BNZ and Conrad Properties on Victoria Residences, conducting due diligence on the project, and ensuring BNZ was comfortable to fund it. Now that construction has begun, White Associates is responsible for monitoring the project key deliverables.

Darin Bayer on Victoria Residences:

It is fantastic to be involved with this high-profile, well-thought out project right from the start. This is the fourth project we’ve worked on with Conrad Properties, and it’s a privilege to be involved with such high-quality, well-designed developments.

We provide value to our clients and to the bank, by providing rigour, expertise and a fresh perspective to projects.

For a highly experienced developer like Conrad Properties, the ability to call on White Associates for a rigorous peer review on Feasibility Reports, Sale and Purchase Agreements, Lease Agreements and budgets, means there’s a high-level of confidence instilled in the project that our clients really appreciate.

Expert eyes know where to look

With our combined experience, we know where to look and we know the cost implications and issues that might arise at settlement time. With these large construction contracts there’s a lot less room for ambiguity.

Our specialist bank funding team has a practical knowledge base, ranging from engineering through to the building trades, and our new team structure means we have the capacity and resources to ensure the right levels of expertise are applied to the project.

For every construction project, time is the critical element. Many projects will secure bank funding in principle, but until there’s a QS report from a reputable consultancy, the money stays with the lender. That’s a pretty compelling reason for any major project owner to engage with a proactive and highly experienced bank funding QS!

The strong demand for apartments within Victoria Residences highlights the opportunities at hand for astute developers like Conrad Properties, who are quick to bring a quality product to market, while satisfying funders and setting their projects up for success from the outset.