Retail Strata Units
The Security Properties comprise two (2) strata titled retail units, located within an eleven storey mixed use development known as Silkari Suites in Chatswood, NSW, approximately 8kms north of the Sydney CBD.
The Security Properties have net lettable areas of 96m2 (Unit 1) and 1,610m2 (Unit 2). Unit 2 is subject to an Agreement for Lease to a gym for a ten (10) year term with two (2) x 5 year options.
The purpose of the Loan was to provide a short-term bridging facility to allow the Borrower time to complete leasing of the two (2) retail lots. Interest has been lodged on deposit for the Term of the Loan.
The Borrower is an experienced Sydney based property group whose main activities include funds management and investment, property development, asset management and hotel operations.
- Interest is pre-paid for the Loan Term.
- The Loan was advanced at a Loan to Value Ratio of 54%.
- The Target Return is 7.20% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by joint and several guarantees and a General Security Agreement over the Borrower.
- The Loan Term is 12 months, subject to early or late repayment, from 21 March 2019 to 20 March 2020.
Target Return7.2% net
Loan to Value Ratio54%
|Security||1st registered mortgages, joint and several guarantees and a General Security Agreement over the Borrower and a related party entity.|
|Asset||Two retail strata units at Chatswood, NSW|
Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.