Greenslopes, Coorparoo & Mount Gravatt East, QLD

Three (3) contiguous properties that form a mixed-use development site of 2,693m², a residential dwelling and two (2) residential units

The Loan is secured by first registered mortgage over three (3) contiguous mixed-use properties in Greenslopes, QLD, a 6 bedroom dwelling in Mount Gravatt East, QLD and two (2) residential units in Coorparoo, QLD.

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

The Greenslopes properties are situated 7km from the Brisbane CBD and are zoned ‘Mixed Use (Corridor)’ under the Brisbane City Council Plan 2014. The site receives significant levels of vehicle exposure. 

Two (2) of the Greenslopes properties are improved with two (2) older style dwellings previously utilised for commercial and storage purposes. The improvements present to an average condition, with one of the dwellings occupied on a residential basis and the other being vacant. The other Greenslopes property is improved with an older style retail building which is currently being refurbished for owner occupation.

The Mount Gravatt East property comprises a 1,188m² site improved with a 1990’s residential dwelling comprising six (6) bedrooms, five (5) bathrooms and a double lock up garage. The surrounding development comprises predominantly low-density residential dwelling of varying age and standard. 

The Coorparoo properties comprise a 4 bedroom, 3 bathroom residential unit and a 2 bedroom, 2 bathroom residential unit. Both units are considered to be in good condition.

The Sponsers have over 30 years’ experience in the construction industry and have been acquiring and developing property in their own right for over 20 years.

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 65%.
• The Target Return is 7.75% 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 and related corporate entities.
• Interest for the Term of the Loan has been lodged on deposit with the Manager.  
• The Loan Term is 8 months, subject to early or late repayment, from 14 November 2025 to 13 July 2026.

Investment Details

• Target Return

  7.75% net

• Loan to Value Ratio

  65%

• Term

  8 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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