Werribee & Keysborough, VIC

'Urban Growth' zoned land and a residential townhouse

The Loan is secured by a first registered mortgage over 'Urban Growth' zoned land pending approval as a residential development site in Werribee VIC, approximately 32km south west of the Melbourne CBD, and a double storey townhouse located in Keysborough VIC, approximately 27km south east of the Melbourne CBD. 

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

The Werribee property comprises a vacant irregular shaped site of 7,242m², within a developing estate known as ‘Harpley’. The Borrower has developed plans to propose the construction of 38 residential townhouses, each with an average floor area of 161.4m². 

The Keysborough Property comprises a 2019 constructed, double storey townhouse providing accommodation of three (3) bedrooms, two (2) bathrooms and a double garage, within a development of 17 townhouses.

The Borrower is a Melbourne based property development company that specialises in townhouse developments and land lot subdivisions across Melbourne’s fastest growing corridors. They have an established track record developing over $100MM worth of townhouse projects since inception.

The Borrower Group are experienced property investors and developers based in Melbourne. The Group generates substantial income through its 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 68%.
• The Target Return is 9.05% 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 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 12 June 2024 to 11 June 2025.

Investment Details

• Target Return

  9.05% net

• Loan to Value Ratio

  68%

• 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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