Berwick, VIC

Urban Growth Zoned mixed-used in fill development site

The Loan is secured by first registered mortgage over an 'Urban Growth' zoned, mixed-use development site located in Berwick, VIC, approximately 47km south east of the Melbourne CBD.

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

The Security Property is a well located, 5,148m² unimproved vacant site within a developing estate. Surrounding development is predominantly residential in nature comprising single and double storey dwellings interspersed with some modern townhouses, as well as vacant land suitable for residential dwellings.

The Borrower intends to lodge a Development Application for the construction of a 110 place childcare centre and 21 townhouses of 3 & 4 bedroom configurations, with associated car spaces and landscaping.

The property is within close proximity to local supermarkets, retail amenity and public transport.

The Borrower Group is an experienced property investor and developer who is well known to the Manager.

• The Loan was advanced at a Loan to Value Ratio of 67%.
• 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 joint and several personal guarantees and a General Security Agreement over the Borrower.
• Interest for the Loan Term has been lodged on deposit with the Manager.
• The Loan Term is 12 months, subject to early or late repayment, from 17 June 2024 to 16 June 2025.

Investment Details

• Target Return

  9.05% 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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