Willoughby, NSW

Proposed Mixed Use Building Redevelopment

The Loan is secured by first registered mortgage over a proposed mixed-use building redevelopment located in Willoughby, NSW, approximately 8km north of the Sydney CBD.

The purpose of the Loan was to assist with the acquisition of the Security Property for future re-development.

Willoughby is an established suburb within the Lower North Shore of Sydney. The subject is currently improved by a mixed-use building which holds a ground floor retail tenancy and two (2) residential units.

The Borrower Group are an experienced construction, development, and fit-out company. They generate substantial income through their real estate holdings as well as holding substantial net 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 67%.
• The Target Return is 8.15% 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 and a related corporate entity.
• Interest is to be paid by the Borrower monthly in advance. The Manager has assessed the financial position of the Borrower and Guarantors as part of its credit approval process 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 14 June 2024 to 13 June 2025.

Investment Details

• Target Return

  8.15% net

• Loan to Value Ratio

  67%

• Term

  9 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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