Kyneton, VIC

A Permit approved mixed-use development site

The Loan is secured by first registered mortgage over a Permit approved mixed-use development site located in Kyneton, VIC, approximately 88km north west of the Melbourne CBD.

The Property is located on the outskirts of the Kyneton township and adjoins the Kyneton Golf Club.

The site is split across four (4) titles, with a combined site area of 63.142ha with 55.13ha of net developable area. Zoning is ‘Commercial 2’ and ‘Rural Living 2’, within the Macedon Ranges Planning Scheme.

The Borrower has achieved Planning Approval to subdivide the site into a maximum of 42 lots. The approval allows for a mix of commercial, retail, light industrial and rural residential.  The Borrower decided to lodge, and has approval for, a Masterplan comprising 28 lots, of which 15 are rural residential and the balance commercial, retail, and light industrial.

The purpose of the Loan was to refinance the existing loan for site acquisition.

The Borrower Group are experienced local developers with a track record of successful land subdivisions and mid and high rise residential/commercial properties.

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 collectively financially capable of supporting a loan of this nature.

• The Loan was advanced at a Loan to Value Ratio of 65%.
• The Target Return is 9.30% 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 Loan Term has been lodged on deposit with the Manager.
• 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 24 June 2024 to 23 June 2025.

Investment Details

• Target Return

  9.3% net

• Loan to Value Ratio

  65%

• 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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