Property Funding

Wilbow has considerable experience in all facets of property development and funding.  The team has been active in these areas for 30 + years.

Bill Bowness, chairman of Wilbow Group, has over 35 years experience as a property developer. He oversaw the growth of his company during that period to be one of the largest privately owned property development companies in Australia and ultimately sold his Australian interests to an ASX listed property company in late 2006.

Peter McBride, the general manager of this business unit,  has over 30 years experience in the banking and finance sector, having spent 17 years of his time in the sector as the Victorian head of property finance for Suncorp.  Peter’s contribution to the real estate development industry was acknowledged in 2007 when he was awarded the Distinguished Service Award by the Urban Development Institute of Australia (Victoria).

Michael Herskope, the CEO of Wilbow Group, has several years experience in property, corporate, banking and finance law as well as transaction structuring.

Wilbow will fund some or all of the development costs that a senior lender will not. Depending on the nature of the development and its level of progress we will structure our contribution as debt or preferred equity. 

Generally, we will invest in developments with the following parameters:

• Term – up to 3 years
• Amount – up to $3m but can cater for larger funding requirements
• Development type – residential subdivisions, unit and townhouse developments, retail, industrial, mixed use and commercial developments

Examples of project funding:

• 50 Claremont St South Yarra – being developed by Michael Yates, this quality apartment complex will have an end value in excess of $100m and is expected to be completed in 2012
• H1 Docklands – a further piece of MAB Corporation’s master plan for the New Quay precinct in Docklands, the H1 project incorporates 328 apartments and is due for completion in early 2012.
• Denton Mills – Wilbow assisted the Burbank Group funding the conversion of an old industrial property in Abbotsford into an award winning boutique residential apartment building. The project was completed in 2009.
• Shopping centre in Regional Victoria – the centre in Maryborough is underpinned by 20 year leases to Coles and Kmart. The site also includes 10 specialty shops and incorporates 7185 sq m of net lettable area with car parking for over 300 vehicles
• Mixed use development – within 10 km’s of Melbourne CBD, Wilbow has invested in a project that will comprise a mix of retail, commercial and in excess of 400 residential apartments. The project life is expected to be 4 years.

For further enquiries please contact Peter McBride:

Phone : 03 9805 2004
Mobile: 0419655148
Email: Peter.McBride@wilbow.com.au