Substantial land holding comprising 72.71ha within a Designated Growth Precinct
The Loan is secured by a first registered mortgage over a substantial land holding comprising an area of 72.71ha in Bringelly, NSW, approximately 57km south west of the Sydney CBD and 21km west of the Liverpool CBD.
The property is zoned 'RU1 Primary Production' under Camden Local Environmental Plan 2010 and is located within the South Creek West precinct of the South West Growth Area which has been released by the NSW Planning Department as a Designated Growth Precinct.
The Security Property is located nearby emerging centres and employment areas, the largest of which is the future Western Sydney Aerotropolis comprising an 11,200ha greenfield precinct being planned and developed around the future Western Sydney Airport. The property is within 11km of the Western Sydney (Nancy Bird Walton) Airport which is currently under construction.
The Borrower engaged major consultancy groups to work closely with Camden Council to prepare the planning and design for Bringelly Sub-Precinct 2 including an indicative layout plan. The Planning Proposal package was submitted to Camden Council in April 2021. The rezoning is anticipated to take at least 24 months.
The Borrower is an existing Balmain client and has conducted previous loans in a prompt and punctual manner.
The Borrower is comprised of two separate family groups with business operations in Australia and China. Both sponsor groups are Australian residents and have significant property development experience and Australian real estate assets.
- The Loan was advanced at a Loan to Value Ratio of 57%.
- The Target Return is 9.20% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by multiple corporate and personal guarantees and General Security Agreements over the Borrower and related entities.
- Interest for the initial 6 months of the Loan Term has been lodged on deposit with the Manager.
- The Loan Term is 12 months, subject to early or late repayment, from 31 May 2021 to 30 May 2022.
Target Return9.2% net
Loan to Value Ratio57%
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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