Fully Invested

Somerton & Epping, VIC

Industrial warehouses (Residual Stock) and Industrial Land

The Loan is secured by a first registered mortgage over five (5) recently completed industrial units in Somerton, VIC and a Planning Permit approved vacant industrial development site in Epping, VIC.

Somerton industrial precinct features tenants such as Toll, Visy, QUBE, Mars Snackfoods, Linfox / Kraft, Coles Group, Bunnings Trade, Mazda Distribution Centre, as well as a vast expanse of vacant land with easy access to arterial roads such as Cooper Street (700m), Hume Freeway (2km) & Metropolitan Ring Road (5km).

The Epping property comprises of a 14,790m2 vacant industrial development site, benefitting from a planning permit allowing for the construction of 47 industrial warehouses in accordance with endorsed plans and located within the recently established Alliance Business Park.

Similar to Somerton, Epping is developing into a modern industrial precinct with a variety of industrial buildings and vacant land allotments.

The purpose of the Loan was to provide a residual stock facility over the completed units in Somerton and to provide funds to assist the Borrower in the purchase of the Epping property.

The Borrower intends to commence presale marketing for the Epping property shortly after settlement with a view to refinance this facility into a construction facility within the Loan Term.

The Borrower Group is a Joint Venture represented by experienced property developers and builders, specialising in residential and commercial developments.

  • The Loan was advanced at a Loan to Value Ratio of 65%.
  • The Target Return is 6.95% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
  • The Loan is supported by joint Directors' 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 9 months, subject to early or late repayment, from 26 March 2021 to 25 December 2021.

 

Investment Details

  • Target Return
    6.95% 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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