Freestanding residential dwelling
The Loan is secured by a first registered mortgage over a freestanding residential property in the Northern Beaches suburb of Manly, NSW approximately 17km north east of the Sydney CBD.
The Security Property comprises a freestanding circa 1884 built Victorian era two (2) storey double brick residence, which stands upon an elevated land parcel of 372m2 with four (4) bedrooms, two (2) bathrooms, and double lockup garage. The Security Property is located within close proximity to local primary and secondary schools, shops, public transport, as well as Manly Beach and Sydney Harbour foreshore.
The Borrower Group purchased the Security Property in March 2021, with settlement occurring in April 2021. The purpose of the Loan was to assist with completing the purchase.
The Borrower Group own and operate an established franchised tyre and auto store in Sydney metropolitan area.
The Loan is anticipated to be repaid by the Borrower Group from the sale of a commercial property currently under contract.
- The Loan was advanced at a Loan to Value Ratio of 32%.
- The Target Return is 4.70% 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 14 months, subject to early or late repayment, from 23 April 2021 to 22 June 2022.
Target Return4.7% net
Loan to Value Ratio32%
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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