Fully Invested

Hawthorn, VIC

Commercial Office Building – Permit Approved Development Site

The Loan is secured by a first registered mortgage over a 5 level commercial office building in Hawthorn, VIC.

The Security Property is located 7km from the Melbourne CBD and is zoned ‘Commercial 1 Zone’ with a Planning Permit for the construction of a 7 level building with 95 hotel rooms.

The purpose of the Loan was to refinance the existing bank debt and provide the Borrower with working capital to assist with the proposed hotel development.

The Security Property is centrally located in a busy retail precinct of Glenferrie Road and benefits from close proximity to Barkers Road, which is a main arterial road that carries vehicle traffic through neighbouring suburbs such as Kew and Mont Albert. Within 500 meters of the property are some of Melbourne’s most prestigious schools, including Methodist Ladies College and Xavier College. Swinburne University’s principal campus is located just 800 meters of the property.

The Borrower Group are well established developers and property investors with significant assets. The Group has completed a number of successful developments, including hotel and accommodation projects

  • The Loan was advanced at a Loan to Value Ratio of 65%.
  • The Target Return is 7.20% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
  • The Loan is secured by a first registered mortgage, multiple joint and several personal guarantees and a Specific Security Agreement over the Borrower.
  • Interest for the Term of the Loan is lodged on deposit with the Manager.
  • The Loan Term is 9 months, subject to early or late repayment, from 21 January 2021 to 20 October 2021.

Investment Details

  • Target Return
    7.2% net
  • Loan to Value Ratio
    65%
  • Term
    7 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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