Fully Invested

Avalon Beach, NSW

Waterfront residential property

The Loan is secured by a first registered mortgage over a substantial waterfront residential property in the Upper-Northern Beaches suburb of Avalon Beach, NSW, approximately 42km north east of the Sydney CBD.

The Security Property has broad panoramic views across Careel Bay and Pittwater towards Palm Beach, Lion Island and the Ku-ring-gai Chase Nation Park.

The purpose of the Loan was to assist with major renovation works on the Security Property. The Security Property was unencumbered prior to this advance.

The Security Property has a land area of 1,631m2 and on completion will provide GFA of 528m2 featuring 5-bed, 5-bath and 2-car accommodation along with an outdoor studio, landscaped gardens, impressive lap pool, large outdoor entertaining areas and inclinator to the waterfront facilities which include a timber jetty with pontoon and permanent mooring pen, boat shed with ramp and slip.

The Borrower Group is a highly experienced property developer that specialises in high-rise residential developments in NSW and holds significant net assets.

The Loan is anticipated to be repaid from Borrower Group profits on current developments being completed.

  • The Loan was advanced at a Loan to Value Ratio of 31% on the ‘as is’ value of the property.
  • The Target Return is 8.70% 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.
  • Interest for the Term of the Loan has been lodged on deposit.
  • The Loan Term is 12 months, subject to early or late repayment, from 21 January 2021 to 20 January 2022.

Investment Details

  • Target Return
    8.7% net
  • Loan to Value Ratio
    31%
  • Term
    10 Months

Full details, unique to each investment, are provided to Investors in a Supplementary PDS. These detailed Supplementary PDS’s are only available to Investors in Balmain Private.

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