Englobo residential land + Completed Residential Lots
The Loan is secured by a first registered mortgage over a permitted englobo land lot and eight titled land lots located in Beaconsfield, VIC, approximately 45kms south-east of the Melbourne CBD.
The purpose of the Loan was to assist with the acquisition of englobo land for future development stages in the Borrower’s Beaconsfield subdivision. The land is subject to an approved planning permit for the construction and subdivision of 70 residential lots.
The Borrower Group are experienced residential property developers and land sub-dividers having delivered 2 residential apartment projects (over 55 units in total) and 3 land subdivision projects (over 330 lots in total) in the immediate area.
- The Loan was advanced at a Loan to Value Ratio of 60%.
- The Target Return is 7.70% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by first registered mortgages over the security properties, unlimited 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 13 December 2018 to 12 December 2019.
Target Return7.7% net
Loan to Value Ratio60%
|Security||1st registered mortgages, unlimited joint and several guarantees and a General Security Agreement over the Borrower and a related party entity.|
|Asset||Permitted englobo residential land + eight (8) titled land lots located at Beaconsfield, VIC|
Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.