Penthouse luxury residential apartment
The Loan is secured by a first registered mortgage over a luxury penthouse residential apartment located in Toorak, VIC, approximately 6.5km south east of the Melbourne CBD.
The property is on the market for sale and, if sold, the Loan will be repaid, and these funds will be returned to Investors.
The Borrower has substantial boutique property development experience having completed a number of luxury townhouse & apartment projects in Melbourne’s south east.
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 58%.
- The Target Return is 5.25% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by a personal guarantee from the Sole Director and a General Security Agreement over the Borrower.
- Interest for the Loan Term has been lodged on deposit.
- The Loan Term is 12 months, subject to early or late repayment, from 29 April 2022 to 28 April 2023.
Target Return5.25% net
Loan to Value Ratio58%
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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