Fully Invested

Toowong, QLD

Mixed-use property with redevelopment potential

The Loan is secured by a first registered mortgage over a 12,340m² inner-city property with future redevelopment potential in Toowong, QLD, approximately 5km south west of Brisbane’s CBD.

The property is zoned ‘CF5 Community Facilities (Education Purpose)’ and is impacted by heritage overlays.

The property is improved by nine (9) bedrooms, four (4) bathrooms,  two (2) kitchens, wide wrap around verandahs and 2 car accommodation built circa 1885. The property was listed with the Queensland Heritage Register in 1999 and is currently utilised for office purposes.

The Borrower is considering multiple development strategies which are consistent with planning objectives for the property, including an aged care facility comprising 150 beds and 150 independent living units. The Borrower has engaged experienced town planners to assist with the planning and development process. The Council is generally supportive of a residential aged care development on the site.

The Borrower is a Special Purpose Vehicle established in May 2017 to acquire and develop the Security Property. The Borrower is a joint venture between an experienced Brisbane based property developer and an ASX listed funds manager of real estate and investment bonds with assets spanning across commercial office, industrial and healthcare sectors throughout Australia and New Zealand.

  • The Loan was advanced at a Loan to Value Ratio of 46%.
  • The Target Return is 7.45% 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 full Loan Term has been lodged on deposit.
  • The Loan Term is 12 months, subject to early or late repayment, from 12 February 2021 to 11 February 2022

Investment Details

  • Target Return
    7.45% net
  • Loan to Value Ratio
    46%
  • 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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