Ascot, QLD & Millers Point, NSW

A quality residential dwelling and a modern residential apartment

The Loan is secured by first registered mortgage over a quality residential dwelling in Ascot, QLD, 6km north east of the Brisbane CBD, and a modern residential apartment in Millers Point, NSW, adjacent to Barangaroo and The Rocks.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trust (BDMIT) sub-trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner.

Interest for the Term of the Loan has been lodged on deposit with the Manager.

The Ascot property comprises a 1,002m² residential lot improved with a 479m² 3 level, 4 bedroom residential dwelling, including a 4 car garage and a pool.

The Miller Street property is a 115m² 2 bedroom, 2 bathroom, residential apartment on level 10 of a quality 27 level residential complex. The unit has a northern aspect with harbour views.

The Borrower is part of an established group which manufactures and distributes disposable food packaging across Australia and New Zealand.

The Borrower Group is well known to the Manager who has provided loans to the Group. All facilities have been conducted in a prompt and punctual manner

• The Loan was advanced at a Loan to Value Ratio of 60%.
• The Target Return is 9.45% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by joint and several guarantees and a General Security Agreement over the Borrower.
• Interest for the Term of the Loan has been lodged on deposit with the Manager.
• The Manager has assessed the financial position of the Borrower 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 24 months, subject to early or late repayment, from 30 June 2023 to 29 June 2025.

Investment Details

• Target Return

  9.45% net

• Loan to Value Ratio

  60%

• Term

  13 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.

Start now by investing in an individual loan to commence building your own first mortgage investment portfolio with Balmain Private.