Fully Invested

Box Hill, NSW

DA Approved Residential development site

The Loan is secured by a first registered mortgage over a 94,084m2 residential development site in Box Hill, NSW, in the North West Priority Growth Area, approximately 50km north west of the Sydney CBD.

The Security Property holds development approval for the construction of 102 lots and three (3) residue lots. The property is Stage 3 of a large residential subdivision being undertaken by the Borrower Group. Stages 1-2 have been completed and comprised 197 lots. At the time of settlement of the Loan, the Borrower had secured 38 pre-sales.

The Borrower Group is an established local property developer specialising in residential land subdivisions mainly focusing on North-West Sydney.

The Borrower Group is well known to the Manager and previous loans have been conducted in a prompt and punctual manner.

The purpose of the Loan was to assist in the purchase of the Security Property.

The Loan is anticipated to be repaid via a refinance for construction once a sufficient level of pre-sales has been achieved.

  • The Loan was advanced at a Loan to Value Ratio of 52%.
  • The Target Return is 5.60% 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.
  • The Loan Term is 6 months, subject to early or late repayment, from 20 April 2021 to 19 October 2021.

Investment Details

  • Target Return
    5.6% net
  • Loan to Value Ratio
    52%
  • Term
    5 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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