Main Ridge, VIC
Rural lifestyle property
The Loan is secured by a first registered mortgage over a rural lifestyle property in Main Ridge, VIC, approximately 93km south of the Melbourne CBD.
The Security Property has a substantial land area of 18.37ha and is currently improved with a single level contemporary style residence which was constructed circa 2019/2020.
The purpose of the Loan was to provide an equity release against the Security Property, which was owned unencumbered prior to this Advance.
The Security Property is within reasonable proximity to Red Hill local shops, restaurants and cafes. A number of primary schools are also close by, with Red Hill Consolidated School being the closest in proximity at 3.92km.
The Borrower is a Special Purpose Vehicle (SPV) established for the sole purpose of procuring the Loan. The Guarantors own an investment portfolio of property and other investments which derives significant income, and hold substantial net assets.
- The Loan was advanced at a Loan to Value Ratio of 60%.
- The Target Return is 4.90% 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.
- Interest is to be paid by the Borrower monthly in advance. The Manager has assessed the financial position of the Borrower and Guarantors as part of its credit approval process 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 11 March 2022 to 10 March 2024.
Target Return4.9% net
Loan to Value Ratio60%
Minimum Initial Investment$10,000
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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