Fully Invested

Hawthorn, VIC

Residential apartment building - future development site

The Loan is secured by first registered mortgage over a residential development site located in the prime inner-city Melbourne suburb of Hawthorn, VIC. The property is presently improved with two (2) residential units.

The purpose of the Loan was to acquire the Security Property.

The subject site is situated approximately 1.5km south of the Glenferrie Road retail precinct, while being approximately 2km south-west of Camberwell Junction. Kooyong Railway Station is situated approximately 1km south, with tram services operating along Glenferrie Road, approximately 250m west.

The subject site is located within 2km of several educational institutions, including Scotch College, St Kevin’s College, Scotch College Junior School, St Josephs School, Auburn South Primary School, Auburn High School, Swinburne University of Technology and University of Melbourne – Burnley Campus.

The Borrower Group are experienced property investors and developers based in Melbourne. The Borrower Group generates substantial income through its real estate holdings as well as holding substantial net assets.

The Borrower Group is well known to the Manager, who has provided multiple loans to the Group over the past 6 years.  All facilities have been conducted in a prompt and punctual manner.

  • The Loan was advanced at a Loan to Value Ratio of 65%.
  • The Target Return is 5.20% 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 is to be paid by the Borrower monthly in advance via direct debit. The Manager has assessed the financial position of the Borrower and Guarantors as part of its credit approval process and is satisfied that they are financially capable to service (pay interest) a loan of this nature.
  • The Loan Term is 18 months, subject to early or late repayment, from 21 May 2021 to 20 November 2022.

Investment Details

  • Target Return
    5.2% net
  • Loan to Value Ratio
    65%
  • Term
    15 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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