Wollongong, NSW

Vacant Residential development site zoned 'R1 General Residential'

The Loan is secured by first registered mortgage over a 714.5m² vacant residential development site located in Wollongong, NSW, on the eastern fringe of the Wollongong CBD and approximately 80km south of Sydney.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the Harbour Street No. 2 Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner.

The site is zoned ‘R1 General Residential’, under the Wollongong Local Environmental Plan 2009, which allows for a 16m building height limit and a 1.5:1 Floor Space Ratio. The surrounding environment comprises a mix of detached houses, residential flat buildings, vacant land, and an active development site currently under construction.

The director has extensive experience in property investment and development, having completed multiple unit projects in North Wollongong and residential subdivision projects in areas around Wollongong.

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 7.95% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by an unlimited guarantee and a General Security Agreement over the Borrower.
• The Manager has assessed the financial position of the Borrower and Guarantor and is satisfied that they are financially capable of servicing a loan of this nature.
• The Loan Term is 18 months, subject to early or late repayment, from 12 December 2025 to 11 June 2027.

Investment Details

• Target Return

  7.95% net

• Loan to Value Ratio

  65%

• 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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