DA approved development site
The Loan is secured by a first registered mortgage over a 2,704m2 DA approved development site in Clayton, VIC, 19kms south-east of the Melbourne CBD. The property holds a planning permit which allows for the construction of a 9 storey building comprising offices, retail, childcare centre and residential dwellings.
The Borrower intends to lodge a new Development Application to propose a scheme that entails retail, student accommodation and a hotel to draw on the strength of the area's educational, medical, scientific, technological and research attributes and with the likes of Monash University in mind.
The Borrower Group is an existing BDMIT client who specialise in property development based in Burwood, Melbourne.
- The Loan was advanced at a Loan to Value Ratio of 47%.
- 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 18 months, subject to early or late repayment, from 14 December 2018 to 13 June 2020.
Target Return7.45% net
Loan to Value Ratio47%
|Security||1st registered mortgage, personal and corporate guarantees and a General Security Agreement over the Borrower|
|Asset||DA approved development site|
Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.