Englobo land for future development
The Loan is secured by a first registered mortgage over englobo residential land located at Oakland Way, Beaudesert QLD 4285, approximately 64kms south west of the Brisbane CBD. The Security Property comprises a 60.18ha parcel of land which forms part of the master planned approved 339ha Oakland Estate which will deliver 2,200 homes. The Borrower has already successfully completed a significant percentage of the Oakland Estate development including retail development, service station, school and Stage 1 of the residential land.
The purpose of this Loan is to refinance the residual land to allow future development of the Aged Care and Child Care sites.
The Borrower Group are experienced property developers and have substantial equity and income producing property within the Oakland Estate.
- The Loan was advanced at a Loan to Value Ratio of 50%
- The Target Return is 7.70% p.a., net of fees and expenses, and is paid to Investors monthly.
- The Loan is supported by joint and several guarantees and a General Security Agreement over the Borrower.
- The Loan Term is 18 months, subject to early or late repayment, from 30 August 2018 to 29 February 2020.
Target Return7.7% net
Loan to Value Ratio50%
|Security||1st registered mortgages, joint and several guarantees and a General Security Agreement over the Borrower.|
|Asset||Englobo land for future development|
Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.