Bowen Hills, QLD

Three (3) contiguous lots totalling 2,548m²

The Loan is secured by first registered mortgages over three (3) contiguous lots under three (3) separate titles forming an irregular shaped site located in Bowen Hills, QLD, approximately 3km north east of the Brisbane CBD.

The Security Properties are located on three (3) street frontages including a major arterial road, with vehicle access via one (1) frontage.

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

The sites are zoned ‘Mixed Use’ under the Bowen Hills Priority Development Area Development Scheme, amended 9 December 2022 for future Olympic amenities. The surrounding environment comprises low impact industrial, office, retail, and residential.

While Development Applications (DAs) are yet to be submitted, the proposals are expected to be mixed-use, in line with the zoning and Highest and Best Use, encompassing residential apartments and the existing character buildings on the site.

The sites are under two (2) separate purchase contracts, subject to buyer due diligence for their respective DAs, which are expected to be lodged and approved within the Loan Term.

The Loan is anticipated to be repaid from the sale of the Security Property.

• The Loan was advanced at a Loan to Value Ratio of 48%.
• The Target Return is 8.05% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by a personal guarantee and a General Security Agreement over the Borrower.
• The Manager has assessed the financial position of the Borrower and Guarantor as part of its credit approval process and is satisfied that they are financially capable to service a loan of this nature.
• The Loan Term is 12 months, subject to early or late repayment, from 16 April 2026 to 15 April 2027.

Investment Details

• Target Return

  8.05% net

• Loan to Value Ratio

  48%

• 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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