Vineyard, NSW

Residential - Residual Stock Loan

The Loan is secured by first registered mortgage over six (6) subdivided residential lots and one (1) temporary basin lot located in Vineyard, NSW, approximately 50km north west of the Sydney CBD.

This Loan is a Residual Stock facility whereby the Loan and LVR are intended to reduce during the Loan Term from sales of the Security lots. On completion of the sale of a Security Property, the Loan facility will be reduced by the agreed net sale proceeds and these funds will be returned to Investors. 

The purpose of the Loan was to refinance the existing debt and provide working capital.

The Security Properties form part of a recently completed 39 lot residential subdivision. Out of the initial 39 residential lots, 32 lots have been sold and settled.

The Borrower is a well-known building company with over six (6) years of experience. The Director has substantial experience in property investment and development, having spent several years working in the Australian building industry, with several successful construction projects to date.

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 joint and several personal 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 6 months, subject to early or late repayment, from 10 May 2024 to 9 November 2024.

Investment Details

• Target Return

  9.15% net

• Loan to Value Ratio

  60%

• Term

  2 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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