Vacant residential development land over two (2) lots
The Loan is secured by a first registered mortgage over vacant residential development land over two (2) lots located in the south-western Sydney suburb of Leppington, NSW.
The purpose of the Loan was to refinance an existing loan against the Security Property.
The subject site is situated approximately 40km south west of the Sydney CBD and 12km south west of Liverpool. The Security Property is well located within Leppington, forming part of the South West Growth Centre within proximity to existing public transport, amenities and major transport nodes.
The property is nearby to schools including Leppington Public School, Unity Grammar, William Carey Christian School and St Francis Catholic College. New schools are also proposed for the area.
Leppington is 18km from the under-construction Western Sydney International Airport which is due for completion in 2026.
The Loan is likely to be repaid from refinance into a construction and development loan.
- The Loan was advanced at a Loan to Value Ratio of 42%.
- The Target Return is 7.00% 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 full Loan Term has been lodged on deposit with the Manager. 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 (pay interest) a loan of this nature.
- The Loan Term is 12 months, subject to early or late repayment, from 14 April 2022 to 13 April 2023.
Target Return7% net
Loan to Value Ratio42%
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