Oakden Rise, SA

Approved Residential Development site

The Loan is secured by first registered mortgage over an approved multistage residential development site located in Oakden Rise, SA, approximately 9.5km north east of the Adelaide GPO.

The Security Property comprises 40,680m² of gently sloping land zoned 'Master Planned Neighbourhood'.

The Security Property forms the fourth, fifth and sixth stage of a multi-staged contract of sale agreement for a substantial master planned residential estate that will eventually comprise 52ha and deliver around 1,500 dwellings.

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

The Borrower Group have 30 years’ experience in the development of residential subdivisions in most of Australia’s major population centres including Adelaide.

The Borrower Group is well known to the Manager and has a strong financial position.

• The Loan was advanced at a Loan to Value Ratio of 65%.
• The Target Return is 9.10% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by joint and several guarantees and a General Security Agreement over the Borrower.
• Interest for the initial 12 months of the Loan Term has been lodged on deposit with the Manager.
• The Loan Term is 24 months, subject to early or late repayment, from 30 May 2024 to 29 May 2026.

Investment Details

• Target Return

  9.1% net

• Loan to Value Ratio

  60%

• Term

  20 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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