Junction Village, VIC
Permit approved residential development site
The Security Property comprises a permit approved residential development site located in Junction Village, VIC, approximately 50km north west of the Melbourne CBD.
The site measures 6.67ha in size with a developable area of 5.37ha. A planning permit was issued in February 2019, allowing a multi-lot subdivision of 78 residential lots across 3 stages. 58 presales have been secured to date.
The purpose of the Loan was to acquire the Security Property.
The Borrower is a Special Purpose Vehicle (SPV) established specifically to hold the subject property and carry out the proposed development.
The Director is an experienced project manager and property developer, having delivered multi-residential projects both in his capacity as a development manager and a developer.
- The Loan was advanced at a Loan to Value Ratio of 65%.
- The Target Return is 6.55% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by a Director’s guarantee and a General Security Agreement over the Borrower.
- Interest for the Term of the Loan has been lodged on deposit with the Manager.
- The Loan Term is 6 months, subject to early or late repayment, from 8 July 2022 to 7 January 2023.
Target Return6.55% 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.
Start now by investing in an individual loan to commence building your own first mortgage investment portfolio with Balmain Private.