Future Development Site
The Loan is secured by a first registered mortgage over a future development site lots in Braddon, ACT. Located adjacent to the Canberra CBD.
The Borrower is seeking to develop 46 townhouses with underground basement parking on the site. The planning process is well advanced.
The Borrower Group is an experienced Canberra property invertor and developer with over 50 years’ experience. The Borrower Group has a strong history of completing residential and commercial developments in the Canberra area. The Borrower Group retains a substantial portfolio of income generating residential and commercial property.
- The Loan was advanced at a Loan to Value Ratio of 60%.
- The Target Return is 7.45% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by joint and several personal and corporate guarantees and a General Security Agreement over the Borrower.
- The Loan Term is 24 months, subject to early or late repayment, from 27 September 2018 to 26 September 2020.
Target Return7.45% net
Loan to Value Ratio60%
|Security||1st registered mortgages, joint and several personal and corporate guarantees and a General Security Agreement over the Borrower|
|Asset||Future development site at Braddon, ACT|
Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.