Enterprise Zoned Land - 3kms from new Sydney Airport
The Loan is secured by a first registered mortgage over a 31.79ha Enterprise Zoned Land located in the Western Sydney suburb of Luddenham, NSW, within 3kms of the new Western Sydney Airport, approximately 48kms west of the Sydney CBD.
The Security Property is situated within the designated Western Sydney Aerotropolis which comprises the land surrounding the future Western Sydney Airport. The Property was recently rezoned to Enterprise (ENT) and Environment and Recreation (ENZ).
The purpose of the Loan was to assist in the purchase of the Security Property. The Borrower optioned the purchase in October 2017 prior to a recent rezoning.
The Borrower Group is an established local property developer specialising in residential land subdivisions mainly focusing on north-west Sydney. The Group is well known to the Manager.
The Borrower intends to market and sell the Security Property throughout the Loan Term.
- The Loan was advanced at a Loan to Value Ratio of 49%.
- The Target Return is 6.85% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by multiple joint and several guarantees and a General Security Agreement over the Borrower.
- Interest for the initial 9 months of the Loan Term has been lodged on deposit.
- The Loan Term is 18 months, subject to early or late repayment, from 4 November 2020 to the 3 May 2022.
Target Return6.85% net
Loan to Value Ratio49%
Minimum Initial Investment$10,000
Full details, unique to each investment, are provided to Investors in a Supplementary PDS. These detailed Supplementary PDS’s are only available to Investors in Balmain Private.
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