Freehold detached residential dwelling
The Loan is secured by a first registered mortgage over a residential property located in Moorooka, QLD, 10km south of the Brisbane CBD.
The Security Property is situated on a regular shaped 673m² block which is improved with a post-war style 3 bedroom, 1 bathroom residential dwelling.
The purpose of the Loan was to assist with the acquisition of the Security Property. The Borrower intends to seek Council approval to subdivide the Security Property into two (2) lots and build two (2) new dwellings.
The Security Property is situated within close proximity to Moorvale Shopping Mall, which is anchored by a Woolworths Supermarket, and is located within the Moorooka State School, St Brendan’s Primary School, Yeronga State School, Brisbane Christian College, and Yeronga State High School catchment areas. The property is well serviced by the Brisbane City Council bus network and is 1.4km east of Moorooka Train Station, providing access to both the Brisbane CBD and Gold Coast networks.
The Borrower Group are experienced finance consultants specialising in the mining, construction, and infrastructure sectors. The Borrowing Group is well known to the Manager and previous loans 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 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.
- Interest for the initial 6 months of the Loan Term has been lodged on deposit with the Manager. After which, interest is to be paid by the Borrower monthly in advance.
- 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 12 months, subject to early or late repayment, from 21 February 2022 to 20 February 2023.
Target Return5.5% 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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