Fully Invested

St Ives, NSW

DA Approved Residential Development Site

This Loan refinanced the Douglas Street Sub-Trust. The loan was maintained by the Borrower in a prompt and punctual fashion and the Manager undertook a new credit assessment and renewed the loan for a further Term with loan documentation containing new Loan Terms and conditions. Investors in the previous Douglas Street Sub-Trust have been fully repaid.

The Loan is secured by way of first registered mortgages over a 5,729m2 residential development site located in St Ives, NSW approximately 24kms north of the Sydney CBD.

The Security Property is currently improved with a single-storey brick main residence, four garages, greenhouse, guest house, in-ground swimming pool and full-sized tennis court. The property benefits from DA consent, provided in October 2018, allowing for the construction of 18 x 1-2 storey detached and semi-detached over 55's residential dwellings with basement car parking.

The Directors of the borrowing entity are major shareholders of a Sydney based property development firm.

  • The Loan was advanced at a Loan to Value Ratio of 55%.
  • The Target Return is 7.95% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
  • The Loan is supported by personal and corporate guarantees along with a General Security Agreement over the Borrower.
  • The Loan Term is 9 months, subject to early or late repayment, from 8 December 2018 to 7 September 2019.

Investment Details

  • Target Return
    7.95% net
  • Loan to Value Ratio
    55%
  • Term
    7 Months
  • Minimum Investment
    $10,000

Loan Information

Loan Amount $4,950,000
Security 1st registered mortgages, joint and several personal and corporate guarantees and a General Security Agreement over the Borrower
Asset Residential development site with DA approval

Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.