Bangholme, VIC
'Green Wedge' zoned land with medium to long term rezoning potential
The Loan is secured by first registered mortgage over 14.33ha of 'Green Wedge' zoned land being held for future residential development located in Bangholme, VIC, approximately 33km south east 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 Pillar Road Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner.
The Borrower intends to apply to rezone the land to allow for residential development. The surrounding areas and adjacent suburbs are well established residential areas, and it is envisaged that a similar type of zoning may be adopted for the subject in the medium to long term.
The Borrower is an SPV established to acquire the property. The Sponsors are experienced property developers with substantial combined personal assets who have completed several residential and commercial developments across Melbourne.
The Borrower Group is well known to the Manager and previous loans have been conducted in a prompt and punctual manner.
- The Loan was advanced at a Loan to Value Ratio of 50%.
- The Target Return is 8.15% 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 3 months of the Loan Term has been lodged on deposit with the Manager.
- The Loan Term is 24 months, subject to early or late repayment, from 11 March 2026 to 10 March 2028.
Investment Details
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Target Return
8.15% net -
Loan to Value Ratio
50% -
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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