Pakenham, VIC

Residential

The Loan is secured by a first registered mortgage over a significant permit approved infill residential site of 15.34 hectares, situated in the outer metropolitan suburb of Pakenham, VIC, approximately 55km south-east of the Melbourne CBD.

Zoned General residential (GRZ1) and Commercial (C1Z), the site holds a planning permit for subdivision into 202 residential lots, and one (1) commercial super lot over 1.7ha.

The purpose of the Loan was to acquire the Security Property. The site is predominantly cleared and improved by a homestead considered to be of no added value. The land rises towards the rear, hence higher allotments will benefit from local views.

Surrounding locale is typified by similar residential subdivisions and land that has generally been developed for established housing. Pakenham railway station is within 3km of the subject, with bus services also available along the Princes Highway within 1.5km.

The site is located within 2km of several educational institutions, including St Patricks Primary School, ECG College Pakenham Campus and Pakenham Secondary College. Retail amenities are also available within 3km of the subject at Pakenham Place Shopping Centre and Pakenham Central Marketplace.

The Borrower Group are highly experienced property developers and investors operating in both Australia and China. In addition to substantial property holdings in Melbourne, the group owns a renewable battery manufacturing business in China that employs over 1,500 staff.

The Borrower group is well known to the Manager.  All previous facilities have been conducted in a prompt and punctual manner.

Investment Details

• Target Return (P.A. net)

  5.6%

• Loan to Value Ratio

  65%

• Term to Run (Mths)

  15 Mths

• Minimum Initial Investment

  $10,000