Park Ridge, QLD

5,015m² corner rural residential lot with a 3 bedroom, 2 bathroom dwelling.

The Loan is secured by first registered mortgage over a 3 bedroom rural residential dwelling with land area of 5,015m² in Park Ridge, QLD, approximately 34km south east of the Brisbane CBD.

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

Constructed on the site is a single level, 3 bedroom, 2 bathroom residential dwelling, plus double carport and detached shed. Improvements are of circa 1990’s construction and of average condition and presentation providing an acceptable standard of accommodation.

The site is zoned ‘Low Density Residential (Acreage)’. The surrounding environment comprises of business, retail, residential, and low impact industrial complexes.

The Borrowers submitted a planning application with the Logan City Council in October 2023 for a Material Change of Use (Childcare Centre) to seek approval for an 896m² childcare facility. At the time of the Loan advance, the planning application was pending an information request response.

Surrounding development comprises predominately semi modern rural residential land holdings and the Park Ridge State School is located within 100m. The Woolworths Park Ridge Shopping Centre and Crest Road Park & Ride bus transfer station are both within 1km. The established residential suburbs of Boronia Heights and Regents Park are located to the north.

The Loan is anticipated to be repaid from the refinance of the Loan into construction finance or sale of the site with development approval.

The Borrower is a high net worth development group based in Brisbane. The Directors have substantial experience in commercial property investment and development, completing over $200MM in commercial property across a range of sectors over the last 10 years. The Borrower Group is well known to the Manager who has provided development funding to the Group previously. 

• The Loan Amount represents 65% of the valuation of the Security Property on a GST exclusive basis (65% LVR).
• The Target Return is 8.95% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is secured by first registered mortgage, an unlimited corporate guarantee plus joint and several personal guarantees from the Directors of the Borrower and a General Security Agreement over the Borrower.
• Interest is to be paid by the Borrower monthly in advance.
• The Loan Term is 12 months, subject to early or late repayment, from 2 July 2024 to 1 July 2025.

Investment Details

• Target Return

  8.95% 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.

Start now by investing in an individual loan to commence building your own first mortgage investment portfolio with Balmain Private.