Gleneagle, QLD

Rural property with future residential development potential

The Loan is secured by first registered mortgage over a 7.479ha rural property with development potential located in Gleneagle, QLD, approximately 53km south west of the Brisbane CBD.

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

The site is within the ‘Urban Footprint of the South East Queensland Regional Plan (SEQRP)' and, the Borrower is seeking to rezone the Security Property for further development as part of their adjoining master planned residential project. The Borrower has undertaken significant site investigations including geotechnical, environmental and contamination reports, infrastructure, services and growth management strategies for the proposed redevelopment of the site.

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 9.15% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is secured by first registered mortgage, an unlimited guarantee from a parent entity of the Borrower, and a General Security Agreement over the Borrower.
• Interest is to be paid by the Borrower monthly in advance.
• The Manager has assessed the financial position of the Borrower and Guarantor 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 8 March 2024 to 7 March 2026.

Investment Details

• Target Return

  9.15% net

• Loan to Value Ratio

  60%

• Term

  17 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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