Seven (7) completed community titled townhouses - Residual Stock Loan
This Loan is a residual stock loan secured by a first registered mortgage over seven (7) recently completed residential townhouses located within a newly completed development known as ‘Auriance Gardens’ in Sunnybank, QLD, approximately 13km south east of the Brisbane CBD.
The Auriance Gardens development comprises of 27 townhouses spanning over 12 buildings with driveways, parking and communal and private green space interspersed. Of the 27 townhouses, 20 have sold and settled.
The Security Properties are located in an established residential area within close proximity to public transport (trains and buses), shops, schools and parks. Retail/commercial amenities within the area includes Centro Pinelands (1.4km to south east) and Sunnybank Plaza and Market Square are approximately 2km radially to the east.
The Sponsor Group is a multifaceted property consulting and construction group. They have, in recent years, evolved into completing their own projects however remain heavily involved as project and development consultants to larger scale projects.
The Loan is anticipated to be repaid from the sale of the individual lots.
- The Loan was advanced at a Loan to Value Ratio of 65%.
- The Target Return is 5.70% 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 17 March 2021 to 16 March 2022.
Target Return5.7% net
Loan to Value Ratio65%
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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