Plumpton, VIC

Rural

The Loan is secured by first registered mortgage over four (4) contiguous parcels of land totalling 256.84ha (average size of 64.21ha) within the outer western suburb of Plumpton, approximately 30km west 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 Plumpton Road Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner.

The sites are zoned ‘Green Wedge’ under the Melton Planning Scheme. The surrounding environment comprises large rural/lifestyle properties within newly constructed urban developments.  

The site is utilised for cropping/grazing purposes, with the land to the southern side of Melton Highway representing the northern boundary of the Urban Growth Boundary (UGB) and comprising developing residential subdivisions and rural residential land identified for urban development within the Plumpton Precinct Structure Plan (PSP). 

The Borrower Group is an established developer specialising in residential land development. They have successfully developed 14 residential land and house projects, resulting in the delivery of over 700 lots.

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

• Target Return (P.A. net)

  9.1%

• Loan to Value Ratio

  54%

• Term

  24 Mths

• Minimum Initial Investment

  $10,000