Spring Hill, QLD
Commercial Residual Stock Units
The Loan is a residual stock facility secured by a first registered mortgage over four (4) strata titled medical suites located within a recently completed medical accommodation building, located in Spring Hill, QLD, approximately 1km north of the Brisbane CBD.
Spring Hill is a well-established medical precinct and is located in close proximity to the St Andrew’s War Memorial Hospital and Brisbane Private Hospital.
The four (4) units held as security have net lettable areas (NLAs) ranging from 104m2 to 124m2 and are currently being marketed by Jones Lang Lasalle. It is intended that the Loan will be repaid from net sale proceeds of 100% of each individual Security Property during the Loan Term.
The Borrower is an experienced local builder and developer.
- Interest is pre-paid for the Loan Term.
- The Loan was advanced at a Loan to Value Ratio of 65%.
- The Target Return is 7.70% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by joint and several guarantees and a General Security Agreement over the Borrower.
- The Loan Term is 12 months, subject to early or late repayment, from 20 December 2018 to 19 December 2019.
Target Return7.7% net
Loan to Value Ratio65%
|Security||1st registered mortgage, joint and several guarantees and a General Security Agreement over the Borrower and a related party entity.|
|Asset||Four strata titled commercial/office units at Spring Hill, QLD|
Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.