Doncaster, VIC

Mixed use corner redevelopment site

The Loan is secured by first registered mortgage over an 'Activity Centre' zoned mixed use development site located in Doncaster, VIC, approximately 16km north east of the Melbourne CBD.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the Council Street Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner.

The subject property comprises a vacant 'Activity Centre' zoned corner site of 2,874m².

The property holds an approved Planning Permit for the construction of a high density/high rise mixed used development. The Borrower lodged an amendment proposing an 8 storey mixed use development over three (3) basement levels of car parking.

The Borrower Group is a diversified mixed-use real estate developer and investor based in Melbourne.

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 50%.
• The Target Return is 8.70% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by a Director’s guarantee 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 12 months, subject to early or late repayment, from 10 May 2024 to 9 May 2025.

Investment Details

• Target Return

  8.7% net

• Loan to Value Ratio

  50%

• Term

  8 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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