Box Hill, NSW
Recently completed residential subdivision
This Residual Stock Loan is secured by a first registered mortgage over a recently completed 83 lot residential subdivision in Box Hill, NSW, approximately 39km north west of the Sydney CBD.
The Borrower has completed all physical site works and has lodged documentation with Hills Shire Council seeking linen plan approval before obtaining a registered plan of subdivision and issuance of titles. Upon issuance of titles the completed individual lots will be sold down.
The subdivision plan will comprise 80 small lots and 3 large lots. Small lots will range in size at an average size of circa 380m2 and, three (3) larger lots at an average size of 2,272m2.
The Borrower is part of a large family owned property construction and development group based in Western Sydney. The group focuses mainly on first home buyers and holds substantial real estate assets.
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 70%.
- The Target Return is 5.95% 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.
- Interest for the initial 3 months of the Loan Term was lodged on deposit with the Manager.
- The Loan Term is 12 months, subject to early or late repayment, from 29 September 2021 to 28 September 2022.
Target Return5.95% net
Loan to Value Ratio70%
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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