Wollongong, NSW

Ground floor retail strata unit

The Loan is secured by first registered mortgage over a ground floor retail stratum in a waterfront facing residential development in Wollongong, NSW, 700m north east of the Wollongong CBD and 68km south of the Sydney CBD.

The property boasts a prime location at the northern tip of Brighton Beach, and offers captivating views of the eastern coastline.

The subject property consists of a Ground level retail stratum within a circa 2016 mixed-use development featuring 33 apartments. All apartments have been sold, while the retail component was retained unencumbered for long-term investment.

The Borrower Group are a very successful property development and investment group in Wollongong and have been established for over 25 years. The Group have significant net real estate assets including a substantial investment property portfolio.

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 62%.
• The Target Return is 7.70% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by multiple joint and several guarantees and a General Security Agreement over the Borrower.
• Interest for the initial 6 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 18 months, subject to early or late repayment, from 13 June 2024 to 12 December 2025.

Investment Details

• Target Return

  7.7% net

• Loan to Value Ratio

  62%

• Term

  15 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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