Brisbane CBD, QLD
Whole floor strata-titled commercial office unit
The Loan is secured by a first registered mortgage over a strata-titled commercial office unit located in the Brisbane CBD.
The Security Property comprises the entire 5th floor of a 19 storey building known as 'Icon Place'. The building was constructed circa 2009. The unit has a strata area of 309m2 and provides an extensively partitioned office accommodation, currently configured to provide two (2) tenancy areas. It includes an exclusive use car park and is within close proximity to Central Train Station, Eagle Street Pier, and Queen Street Mall.
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 Security Property was acquired with vacant possession.
The Borrower owns and operates an IT services company based in Brisbane, QLD.
The Loan is anticipated to be refinanced to a major bank once tenants are secured for the entire unit.
- The Loan was advanced at a Loan to Value Ratio of 32%.
- The Target Return is 5.70% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by a personal guarantee from the Sole Director and a General Security Agreement over the Borrower.
- Interest for the Term of the Loan has been lodged on deposit.
- The Loan Term is 12 months, subject to early or late repayment, from 30 April 2021 to 29 April 2022.
Target Return5.7% 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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