Bonshaw, VIC

Residential Subdivision Site

The Loan is secured by first registered mortgage over a 3.689ha proposed residential subdivision development site located in Bonshaw, VIC, approximately 8km south west of central Ballarat and 123km west of the Melbourne CBD. 

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

The site is zoned part 'Urban Growth' and is predominately included within the approved Ballarat West Precinct Structure Plan, being earmarked primarily for future residential. Additionally, 0.45ha of land is not included within the Ballarat PSP. It is currently zoned Farming Zone and will not be developed.

The Growth Area within the Ballarat West PSP is slated to host approximately 18,000 new homes upon full development, accommodating a population exceeding 40,000 individuals.

A Planning Permit application has been submitted, which incorporates the Security Property and four (4) adjoining properties, for the construction of a multi stage residential subdivision to comprise 217 residential lots and two (2) super lots. 

The Borrower is a Special Purpose Vehicle (SPV) created specifically to hold the Security Property. The Directors are experienced property investors and developers who have completed multiple residential subdivisions in Victoria.   

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 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 multiple joint and several guarantees and a General Security Agreement over the Borrower.
• Interest for the Loan Term was lodged on deposit with the Manager.
• The Loan Term is 10 months, subject to early or late repayment, from 26 February 2024 to 25 December 2024.

Investment Details

• Target Return

  9.45% net

• Loan to Value Ratio

  60%

• Term

  7 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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