Woodridge and Sunnybank, QLD

41,380m² DA approved subdivision site and a recently completed 4 bedroom, 2 bathroom townhouse unit

The Loan is secured by first registered mortgage over a DA approved residential subdivision site in Woodridge, QLD and a recently completed 4 bedroom, 2 bathroom townhouse in Sunnybank, QLD.

The purpose of the Loan was to assist with the acquisition of the Woodridge subdivision site Security Property.

The development site is an irregular shaped 41,380m² site zoned ‘Low Density Residential’ under the Logan Planning Scheme 2015 and holds approval for a 21 lot Community Title subdivision. The proposed lots range in size from 350m² to 700m² with an average lot size of 435m². An internal common property road will provide access to the lots.

The site is located in the outer ring suburb of Woodridge, QLD. The surrounding area is characterised by single detached dwellings, townhouses, and a service station located directly to the north. The Gold Coast/Beenleigh railway station is also located 2.7km from the site.

The recently completed townhouse comprises four (4) bedrooms and two (2) bathrooms and is well serviced by public transport, schools, and retail. The property is a residual stock unit from an 11-townhouse complex which was completed by the Borrower in 2023 with nine (9) of the eleven (11) townhouses now sold and settled. The property is considered to have good street appeal and is of very good internal condition.

The Borrower is well known to the Manager and previous loans have been conducted in a prompt and punctual manner.

• The Loan was advanced at a Loan to Value Ratio of 58%.
• 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 a personal guarantee from the Director 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 22 March 2024 to 21 September 2024.

Investment Details

• Target Return

  9.45% net

• Loan to Value Ratio

  58%

• Term

  4 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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