Fully Invested

Ascot, QLD & Millers Point, NSW

Residential properties

The Loan is secured by first registered mortgages over a residential property in Ascot, QLD, 6km north east of the Brisbane CBD, and a strata titled residential apartment in Millers Point, NSW, adjacent to Barangaroo and The Rocks.

The Ascot property comprises a 1,002m² residential lot improved with a 479m² 3 level, 4 bathroom residential dwelling.

The Millers Point property is a 115m² 2 bedroom, 2 bathroom, residential apartment with basement parking within a 199 apartment complex over 27 levels.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the Beatrice Terrace Sub-Trust. Investors in the Beatrice Terrace Sub-Trust have been fully repaid. The previous sub-trust was conducted by the Borrower in a prompt and punctual manner and in accordance with the loan terms.

The Borrower is part of an established group which manufactures and distributes disposable food packaging across Australia and New Zealand.

  • The Loan was advanced at a Loan to Value Ratio of 49%.
  • The Target Return is 5.80% 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.
  • 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 24 months, subject to early or late repayment, from 21 July 2021 to 20 July 2023.

Investment Details

  • Target Return
    5.8% net
  • Loan to Value Ratio
    49%
  • Term
    22 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.

Start now by investing in an individual loan to commence building your own first mortgage investment portfolio with Balmain Private.