Box Hill, NSW
DA Approved Residential Development Site
The Loan is secured by a first registered mortgage over a well positioned DA approved residential development site in Box Hill, NSW.
The underlying Security Property comprises 2.1ha of flat residential land (0.89ha developable land) in Sydney's North West Growth Area and is DA approved for a 37 residential lot subdivision.
The Borrower Group has presold 36 of the available lots.
The Borrower Group are established and successful property developers, who specialise in residential developments in Sydney.
The Borrower Group is well known to the Manager, who has provided multiple loans to the Group over the past 10 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 6.70% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by an unlimited guarantee and a General Security Agreement over the Borrower.
- Interest for the Term of the Loan has been lodged on deposit with the Manager.
- The Loan Term is 18 months, subject to early or late repayment, from 4 June 2021 to 3 December 2022.
Target Return6.7% net
Loan to Value Ratio65%
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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