Leppington, NSW

Residual residential development site

The Loan is secured by first registered mortgage over a residual residential development site of circa 6,223m² located in Leppington, NSW, approximately 38km south west of the Sydney CBD.

The property is a residual development lot from the Borrower’s development of over 47 residential lots.

The land is zoned 'R2 Low Density Residential' under the State Environmental Planning Policy 2021. 

The land is suitable for redevelopment into 16 residential lots. The residential lots are congruous with other development in the surrounding area and the local planning rules.  

The subject property is currently void of improvements with a completed temporary on-site detention basin being located on the land.  

The site is bordered by new housing on the southern boundary and market gardens on an adjacent lot. 

The Security Property is well located within Leppington, forming part of the South West Growth Centre, within proximity to existing public transport, amenities and major transport nodes. 

The Borrower Group are experienced property developers who have completed multiple projects in the Western Sydney region.

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 39%.
• The Target Return is 9.20% 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 (pay interest) a loan of this nature.
• The Loan Term is 12 months, subject to early or late repayment, from 27 June 2024 to 26 June 2025.

Investment Details

• Target Return

  9.2% net

• Loan to Value Ratio

  39%

• 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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