Commercial Office Redevelopment Site
The purpose of the Loan was to the purchase a commercial property located at of 23 Ryde Road, Pymble NSW. The Security Property comprises a dilapidated commercial property on the shoulder of a busy intersection of northwest Sydney. The property represents a development/remediation opportunity.
The Security Property is improved by a 3 story office block with 63 car spaces comprising 2,154m2 of potential commercial office NLA plus a further 2,159m2 of basement storage and parking. The building is not in useable condition and will be redeveloped in the short term.
- The Loan was advanced at a Loan to Value Ratio of 55%.
- 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 multiple joint and several guarantees and a General Security Agreement over the Borrower.
- The Loan Term is 12 months, subject to early or late repayment, from 12 October 2018 to 11 October 2019.
Target Return7.45% net
Loan to Value Ratio55%
|Security||1st registered mortgage, multiple joint and several guarantees and a General Security Agreement over the Borrower|
|Asset||Commercial Office Redevelopment Site|
Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.