Leopold, VIC

A Permit Approved residential sub-division site

The Loan is secured by first registered mortgage over a 17,193m² vacant lot which is Planning Permit approved for a 30-lot residential subdivision located in Leopold, VIC, approximately 9.4km east of the Geelong CBD and 74km south west of the Melbourne CBD.

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

The permit approval allows for the subdivision of the property into 30 residential lots, ranging in size from 300m² to 483m².

The Borrower is a Melbourne based property developer, specialising in townhouse developments and land lot sub-divisions across Melbourne’s western growth corridors.

The Borrower Group is well known to the Manager who has provided multiple 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 65%.
• The Target Return is 9.15% p.a., net of fees and expenses, and is paid to Investors monthly in arrears. 
• The Loan is supported by unlimited joint & several guarantees and indemnities 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 9 months, subject to early or late repayment, from 14 February 2024 to 13 November 2024.

Investment Details

• Target Return

  9.15% net

• Loan to Value Ratio

  65%

• Term

  6 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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