Open for Investment
Glen Waverley, VIC
Residential
The Loan is secured by first registered mortgage over 19 x 2 bedroom apartments, contained across three (3) buildings in a development located in Glen Waverley, VIC, approximately 20km south east of the Melbourne CBD.
This Loan is a Residual Stock Facility, whereby the Loan and LVR will reduce during the Loan Term from sales of the completed Security Properties. On completion of the sale of a Security Property, the Loan will be reduced by the agreed net sale proceeds and these funds will be returned to Investors.
The Security Properties are located a within a substantial residential development known as Sky Garden, which was completed in November 2020. Sky Garden is a premium residential project with ‘resort-style’ facilities comprising three (3) towers atop The Glen Shopping Centre, a major regional shopping centre in Melbourne’s south eastern suburbs. The Glen has 78,000m2 of Gross Lettable Area (GLA), fresh food market, town centre and two (2) dining precincts.
The towers comprise 536 apartments, featuring a mix of 1,2,3 and 4 bedroom units that have been completed to a high standard of finish. The developments are further enhanced by extensive resident amenities including pool, steam room, gym, yoga, mahjong rooms, private dining, terrace BBQ facilities, private cinema, formal lounge and library.
The Borrower has substantial experience in property investment and development, developing over $4.2bn in projects across residential, hotel, mixed use, commercial and house and land packages across Australia over the last 17 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.
Investment Details
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Target Return (P.A. net)
8.15% -
Loan to Value Ratio
66% -
Term to Run (Mths)
13 Mths -
Minimum Initial Investment
$10,000
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