Portsea, VIC
Heritage listed residential property
The Loan is secured by a first registered mortgage over a significant heritage listed residential dwelling located in Portsea, VIC, approximately 110km south west of the Melbourne CBD, within walking distance of the port Philip Bay foreshore & front beach.
The Security Property comprises a 4,047m2 rectangular allotment improved with a circa 1902 double storey limestone block residence.
The dwelling is 707m2 and has been updated in more recent years, presenting to a well-maintained standard. It comprises eight (8) bedrooms, a study, four (4) bathrooms, a generous balance of living amenity, a double garage/workshop/cellar, adjoining pool house, alfresco area, inground swimming pool & spa, tennis court and established Paul Bangay landscaped gardens.
The Borrower is a SPV established to undertake this facility. The Sponsor is a CEO of an international marketing business and holds a substantial net asset position.
- The Loan was advanced at a Loan to Value Ratio of 70%.
- The Target Return is 6.95% 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 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 29 May 2024 to 28 May 2025.
Investment Details
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Target Return
6.95% net -
Loan to Value Ratio
70% -
Term
8 Months -
Minimum Initial Investment
$10,000
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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