Wyndham Vale, VIC
Englobo Residential Land
The Loan is secured by a first registered mortgage over a 12.14ha englobo land lot in Wyndham Vale, VIC, approximately 31kms south west of the Melbourne CBD. The Property provides a significant frontage to Ballan Road and is located within immediate proximity of the Manor Lakes Shopping Centre and nearby the Wyndham Vale Railway Station.
The Borrower intends to develop 153 residential lots and 2 commercial lots on the site that will be sold. The Borrower will seek construction finance to complete the project.
The Borrower is an experienced property investor and developer. The Borrower has a strong history of completing residential and commercial developments and holds a substantial real estate investment portfolio.
- The Loan was advanced at a Loan to Value Ratio of 38%.
- 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 the Director’s personal guarantee and a General Security Agreement over the Borrower.
- The Loan Term is 12 months, subject to early or late repayment, from 2 November 2018 to 1 November 2019.
Target Return7.45% net
Loan to Value Ratio38%
|Security||1st registered mortgage, Director’s personal guarantee and a General Security Agreement over the Borrower and a related party entity.|
|Asset||Englobo Land Lot at Wyndham Vale, VIC|
Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.