Fully Invested

Wantirna South, VIC

Permit approved residential development site

The Security Property comprises a residential development site located in Wantirna South, VIC, approximately 25km south of the Melbourne CBD.

 A planning permit was recently issued on 24 June 2022 for a staged subdivision of land and construction of five (5) double storey dwellings and removal of native vegetation (Stage 1).

 The Borrower will complete civil works to create lots 1-5 from their cash equity, which will be sold under split land and house type contracts, and is the primary exit of this facility.

 Typical of an established residential area, the site is within close proximity to local parklands, community facilities, educational institutions, health services and public transport.  

 The Borrower is a joint venture between three (3) partners who, together, hold substantial group net assets.

 The Director has an extensive track record in delivering residential (townhouses and subdivisions) and commercial projects (predominantly office development and repositioning).

  • The Loan was advanced at a Loan to Value Ratio of 65%.
  • The Target Return is 6.40% 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 initial 6 months of the 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 26 July 2022 to 25 July 2023.

Investment Details

  • Target Return
    6.4% net
  • Loan to Value Ratio
    65%
  • Term
    11 Months

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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