Muswellbrook, NSW

Residential lots for future development plus an englobo super lot

The Loan is secured by first registered mortgage over an englobo residential development site and 16 residential lots located in Muswellbrook, NSW approximately 177km north west of the Sydney CBD and 129km north west of the Newcastle CBD. 

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the John Howe Circuit No. 3 Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner.

The Borrower is part of a large, family owned property construction and development company based in Western Sydney. The group focuses mainly on first home buyers and holds substantial real estate assets. 

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 9.20% 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.
• Interest for the initial 3 months of the Loan Term has been lodged on deposit with the Manager.
• The Manager has assessed the financial position of the Borrower and Guarantors and is satisfied that they are financially capable to service a loan of this nature.
• The Loan Term is 12 months, subject to early or late repayment, from 24 April 2024 to 23 April 2025.

Investment Details

• Target Return

  9.2% 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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