Narre Warren, VIC

A Master Plan approved residential development site, currently operating as a caravan park

The Loan is secured by first registered mortgage over a 4.13ha operating caravan park that is Master Plan approved for residential development, located in Narre Warren, VIC, approximately 38km south east of the Melbourne CBD.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trust (BDMIT) sub-trust known as the Fullard Road Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner and in accordance with loan documentation.

The site is currently operating as a caravan park which comprises of 157 serviced sites. Of these sites, 113 are operational, with the remaining balance land designated for future development.

The Borrower operates a large property development company with substantial experience in residential property investment and development. They have completed various projects across Melbourne in the past 10 years, which has culminated in a diversified portfolio and substantial net asset position.

The Borrower has submitted a planning permit application to council for Stage 1 of the development which is pending approval.

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 68%.
• The Target Return is 8.25% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by multiple joint and several personal and corporate guarantees and a General Security Agreement over the Borrower.
• Interest for the initial 3 months of the Loan Term has been lodged on deposit with the Manager.
• The Manager has assessed the financial position of the Borrower and Guarantors and is satisfied that they are financially capable to service a loan of this nature.
• The Loan Term is 18 months, subject to early or late repayment, from 2 July 2025 to 1 January 2027.

Investment Details

• Target Return

  8.25% net

• Loan to Value Ratio

  68%

• Term

  18 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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