Fully Invested

Balaclava, VIC

Commercial Property with Permit Approval for residential redevelopment.

The Loan is secured by a first registered mortgage over a commercial property located on a 1,735m² site in Balaclava, 7kms south of the Melbourne CBD. The Property is well exposed with three street frontages and located nearby schools, public transport, shopping strips and St Kilda Beach.

The property holds a planning permit which allows for the partial demolition of the Security Property and construction of 26 tri-level townhouses and 3 single level apartments. The property is currently improved with a two-storey commercial building.

The Borrower is an experienced local property developer who has undertaken a number of similar townhouse developments in Victoria.

 

  • The Loan was advanced at a Loan to Value Ratio of 65%.
  • The Target Return is 7.70% p.a., net of fees and expenses, and is paid to Investors monthly.
  • The Loan is supported by a personal guarantee and a General Security Agreement over the Borrower.
  • The Loan Term is 9 months, subject to early or late repayment, from 21 September 2018 to 20 June 2019.

Investment Details

  • Target Return
    7.7% net
  • Loan to Value Ratio
    65%
  • Term
    6 Months
  • Minimum Investment
    $10,000

Loan Information

Loan Amount $5,200,000
Security 1st registered mortgage, personal guarantee and a General Security Agreement over the Borrower.
Asset Commercial Property with Permit Approval for residential redevelopment.

Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.