Fully Invested

Beaconsfield, VIC

Permit approved residential development site

The Loan is secured by a first registered mortgage over a 23,880m2 englobo land parecel at Beaconsfield, VIC. Beaconsfield is an established residential suburb approximately 45km south-east of the Melbourne CBD.

The Borrower has secured a Planning Permit for subdivision of the site into 30 residential housing lots.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the Rix Road No. 2 Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner and in accordance with loan documentation.

The Borrower Group are experienced land sub-dividers and residential property developers, 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 7.20% 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.
  • Interest for the first 6 months of the Term of the Loan has been lodged on deposit.
  • The Loan Term is 12 months, subject to early or late repayment, from 23 December 2020 to 22 December 2021.

Investment Details

  • Target Return
    7.2% net
  • Loan to Value Ratio
    60%
  • Term
    9 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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