Industrial investment properties
The Loan is secured by first registered mortgages over two industrial properties in Derrimut, VIC, 25km west of the Melbourne CBD.
The purpose of the Loan was to complete the acquisition of a residential site in inner city Melbourne for future development purposes.
Security Property 1 is a 26,312m2 land parcel held over four titles with substantial office and warehouse building improvements totalling 15,245m2 of Gross Lettable Area. The property is fully leased.
Security Property 2 is a smaller single level, strata title industrial unit with five allocated car spaces. The warehouse has a Gross Lettable Area of 470m2. The property is currently being advertised for lease and/or sale.
The Borrower Group is an established Melbourne based property developer who typically develops and holds income producing industrial and commercial assets for medium term. The Borrower Group generates substantial income through its real estate holdings.
- The Loan was advanced at a Loan to Value Ratio of 70%.
- The Target Return is 5.95% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by multiple joint and several personal and corporate guarantees and a General Security Agreement over the Borrower.
- The Loan Term is 24 months from 25 March 2020 to 24 March 2022 (subject to early or late repayment).
Target Return5.95% net
Loan to Value Ratio70%
Minimum Initial Investment$10,000
|Security||1st registered mortgages, multiple joint and several personal and corporate guarantees and a General Security Agreement over the Borrower|
|Asset||Income producing industrial properties, located in Derrimut VIC|
Full details of each investment are provided to investors in a Supplementary PDS unique to each particular Sub-Trust.