Boronia, VIC

Permit Approved Residential Redevelopment Site

The Loan is secured by first registered mortgage over a permit approved residential redevelopment site located in Boronia, VIC, approximately 29km 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 Henry Street Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner and in accordance with loan documentation. 

The property comprises a 1,180m² regular shaped allotment zoned 'General Residential' under Knox City Council and has Planning Permit approval for the construction of nine (9) townhouses.

The Borrower Group are experienced property developers and business owners who are well known to the Manager. They have previoulsy completed multiple developments of this nature.

The property is in close proximity to public transport, education services, parks and recreation and retail amenities.

• The Loan was advanced at a Loan to Value Ratio of 55%.
• The Target Return is 8.00% 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.
• 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 12 months, subject to early or late repayment, from 26 June 2026 to 25 June 2027.

Investment Details

• Target Return

  8% net

• Loan to Value Ratio

  55%

• 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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