Residential in-fill land
The Loan is secured by first registered mortgages over two adjoining lots comprising 17.91ha of land, the majority (56%) of which is zoned Low Density Residential and located within the north-western Sydney suburb of Kellyville.
The Security Properties were strategically acquired by the Borrower as a future residential site some time ago as they are situated within the NSW Government’s designated 'North West Growth Sector'. The Borrower Group are currently in the process of applying for council approval to develop 83 residential lots.
The Borrower is a long established and well capitalised Australian development and investment company.
- The Loan was advanced at a Loan to Value Ratio of 59%.
- 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 personal and corporate guarantees and a General Security Agreement over the Borrower.
- The Loan Term is 12 months, subject to early or late repayment, from 7 December 2018 to 6 December 2019.
Target Return7.45% net
Loan to Value Ratio59%
|Security||1st registered mortgages, personal and corporate guarantees and a General Security Agreement over the Borrower|
|Asset||Residential land for future development located in Kellyville, NSW|
Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.