Lindfield
Deicorp’s Lindfield development will deliver 399 apartments, including 59 affordable housing dwellings, within walking distance of transport, retail and community infrastructure on Sydney’s Upper North Shore.
Opportunity
Sydney’s Upper North Shore is characterised by tightly held, low-density housing, established owner-occupier demand and limited new apartment supply. Against a broader shortage of housing, including affordable housing, the NSW Government’s Transport Oriented Development Program created an opportunity to increase density close to selected rail stations, including Lindfield.
Deicorp assembled the 13,386 sqm site at 9-21 Beaconsfield Parade in 2025. Following the introduction of new planning controls, the project received State Significant Development approval in February 2026 for 399 apartments across three buildings, including 59 affordable housing dwellings. With planning approval secured, the project required a construction funding solution suited to its scale and staged delivery program.
Approach
MaxCap provided a first mortgage construction facility to support Deicorp’s staged delivery of the Lindfield development. The funding solution was structured as a single facility aligned with the construction program, enabling the first 269 apartments to progress ahead of the second stage, and supporting the efficient deployment of capital across the project.
The transaction builds on MaxCap’s established relationship with Deicorp, following three previous transactions, including construction and residual-stock financing for The Rothschild in Rosebery and financing for Cosmopolitan Parramatta. It reflects MaxCap’s ability to structure and execute a large-scale residential construction facility tailored to a complex, multi-stage development.
"Lindfield demonstrates how a tailored construction funding solution can support the staged delivery of significant new housing, including affordable homes, in a well-connected metropolitan location."
Chief Investment Officer
Outcome
The development will deliver 399 apartments, including 59 affordable housing dwellings, in Sydney’s Upper North Shore. Eight dwellings will be permanently designed as affordable housing, with the remaining 51 designated as affordable housing for at least 15 years. Located 350 metres from Lindfield Station, the project will increase housing supply near established transport, retail and community infrastructure. Stage one is scheduled for completion in 2028, followed by stage two in 2029.
Over almost two decades, MaxCap has become one of the country’s largest providers of residential construction finance outside the major banks, supporting housing delivering across the development lifecycle.
