Fully Invested

Box Hill, VIC

Commercial properties – high density future development site

  • The Loan is secured by a first registered mortgage over a commercial redevelopment site situated within the centre of the established growth suburb of Box Hill, 14km east of Melbourne’s CBD.
  • The property is currently improved by three (3) 1 & 2 level office and retail buildings.
  • The purpose of the Loan was to refinance an existing loan used to acquire the Security Property.
  • The Security Property is ideally located in the heart of Box Hill Central within the Box Hill Activity Centre, Precinct F, which encourages high density development. It is within 100m of the intersection of two (2) major arterial roads, and 250m from Box Hill Central Shopping Centre and transport interchange (train/bus/tram).
  • The property is Permit approved for a 15 level hotel development, of 188 hotel rooms, and 4 basement car parking levels. The Borrower will likely seek amendment to this Permit.
  • Extremely strong sponsors. The Borrower Group are experienced property investors and developers based in Melbourne, who hold significant net assets and generate substantial income through their real estate holdings.
  • The Borrower Group is well known to the Manager. All previous facilities have been conducted in a prompt and punctual manner.
  • The Loan was advanced at a Loan to Value Ratio of 69%.
  • The Target Return is 5.50% 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 Manager has assessed the financial position of the Borrower and Guarantors and is satisfied that they are financially capable to service a loan of this nature.
  • The Loan Term is 18 months, subject to early or late repayment, from 10 June 2021 to 9 December 2022

Investment Details

  • Target Return
    5.5% net
  • Loan to Value Ratio
    69%
  • Term
    14 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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