Braddon, ACT

A DA Pending Commercial Development Site

The Loan is secured by first registered mortgage over a 8,732m² DA pending commercial development site located in Braddon, ACT, approximately 1.8km north east of the Canberra CBD.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the Farrer Street Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner.

The subject site has been subdivided in two (2) portions; being Lot 1 with frontage to Farrer Street (4,234m²) and Lot 2 facing Elder Street (4,498m²). Works have been completed however separate titles are not yet registered.

The Borrower Group is an active property developer with over 50 years’ experience in successful property development.  

The Borrower Group is a long-term Balmain client with a substantial net asset position invested in a diverse commercial and residential investment portfolio. 

• The Loan was advanced at a Loan to Value Ratio of 48%.
• The Target Return is 8.50% 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.
• 3 months' interest 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 24 months, subject to early or late repayment, from 17 June 2025 to 16 June 2027.

Investment Details

• Target Return

  8.5% net

• Loan to Value Ratio

  48%

• Term

  24 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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