Rural Residential Land
This Loan refinanced the initial Old Northern Road Sub-Trust. The loan was maintained by the Borrower in a prompt and punctual fashion and the Manager undertook a new credit assessment and renewed the loan for a further term with Loan documentation containing new Loan terms and conditions.
Investors in the previous Old Northern Road Sub-Trust have been fully repaid.
The Loan is secured by first registered mortgages over five (5) rural housing lots situated on 10.977ha of land. The Security Properties have been strategically acquired by the Borrower for consolidation with existing adjacent and nearby holdings for future development purposes. The Properties are located in Dural, NSW, which is located 36kms north-west of the Sydney CBD.
The Borrower is a long established and well capitalised Australian development and investment company.
- The Loan was advanced at a Loan to Value Ratio of 50%.
- The Target Return is 7.55% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by personal and corporate guarantees and a General Security Agreement over the Borrower.
- The Loan Term is 18 months, subject to early or late repayment, from 18 April 2019 to 17 October 2020.
Target Return7.55% net
Loan to Value Ratio50%
|Security||1st registered mortgages, personal and corporate guarantees and a General Security Agreement over the Borrower|
|Asset||Rural land for future development located in Dural, NSW|
Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.