Beveridge, VIC

Englobo 'Urban Growth' zoned residential land

The Loan is secured by first registered mortgage over 40.47ha of predominately 'Urban Growth' zoned land which forms a future residential development site located in Beveridge, VIC, approximately 40km north of the Melbourne CBD.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the Old Sydney 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 zoned ‘Urban Growth Zone’ (23.82ha), 'Rural Conservation Zone' (6.71ha) and ‘Urban Floodway Zone’ (9.94ha). It is within the Western Growth Corridor Plan and the proposed Beveridge North West Precinct Structure Plan (PSP), which is in the final stages of the approval process.

The Security Property is surrounded by large residential lifestyle properties and rural land. Developed residential estates are located 1.2km south of the subject and the Hume Freeway is 3km to the west.

The Directors of the Borrower Group are experienced land investors with a history of successful transactions of englobo sites, and the Sponsors are experienced property developers who have invested in several residential developments.

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 55%.
• The Target Return is 8.45% 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 initial 6 months of the Loan Term been lodged on deposit with the Manager.
• The Loan Term is 12 months, subject to early or late repayment, from 30 January 2025 to 29 July 2026.

Investment Details

• Target Return

  8.45% net

• Loan to Value Ratio

  55%

• Term

  12 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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