ESG Case Study - Brunswick East

Woodbridge is pleased to share a positive ESG case study as we recently provided funding for a townhouse development in Brunswick East.

What?

A major land holding in inner urban Melbourne with an existing derelict warehouse.

Directly located in a residential area that strongly benefits from being walking distance to retail amenity, tram services on Lygon street and comprising an impressive 90+ walk score.

How?

Woodbridge provided settlement funding to the incoming purchaser and further funding for demolition and site remediation costs.

Extensive due diligence was undertaken on site remediation risks, costs and time involved.

This involved significant time engaging with the borrower and their environmental consultants on the remediation strategy.

Positive Outcomes

An environmental clearance was provided within six months of funding.

Construction funding was then provided by Woodbridge enabling the development to go ahead.

Delivery of key housing supply in an under supplied housing market.

Benefits to the local community including improved street appeal, off street parking, remediated land and construction jobs.