Cowes, VIC

'Mixed Use' zoned redevelopment site

The Loan is secured by first registered mortgage over a 1,529m² 'Mixed Use' zoned redevelopment site in Cowes, the main township of Phillip Island, located approximately 140km 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 improved with three (3) large storage sheds leased on a month-to-month basis, providing holding income prior to redevelopment.

A planning permit application has been submitted to Council to subdivide the land into two (2) lots. The Borrower then intends to develop a 2 level medical centre on Lot 1 and a detached 2 level dwelling on Lot 2.

The Security Property is well located for redevelopment, being situated to the fringe of the Cowes retail precinct, with frontage to Cowes' main thoroughfare.

The Borrower Group is a property development and investment company, that specialises in small residential and commercial developments in Victoria.

• The Loan was advanced at a Loan to Value Ratio of 61%.
• The Target Return is 8.70% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by Directors' guarantees and a General Security Agreement over the Borrower.
• Interest for the Term of the Loan has been lodged on deposit with the Manager. 
• The Loan Term is 12 months, subject to early or late repayment, from 26 March 2025 to 25 March 2026.

Investment Details

• Target Return

  8.7% net

• Loan to Value Ratio

  61%

• 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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