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Bridging loans generally only allow you to go to a max 80% of the peak debt/value. It won't work in this case. They also tend to charge more, and be a major pain in the bum to get approved.

All subject to affordability, etc... You can probably top up your existing loan back to 90% of the current value. This would leave you with about $130k cash for the deposit and costs of the next purchase. You'd need an LVR of 85%-90% for the new purchase, so there's some LMI to be paid both...