Open for Investment
Box Hill, NSW
This Loan is a residual stock loan secured by a first registered mortgage over 132 residential lots and 5 super lots located within a newly completed residential estate in Box Hill, NSW, approximately 50kms north-west of the Sydney CBD.
The residential estate is a staged residential subdivision of which Stages 1-2 have been completed and comprised a total of 197 lots. Of the 197 lots 43 have been pre-sold during the construction phase and the balance of 132 and 5 super lots form the Security for this Loan.The 5 super lots are approved for further subdivision into 21 residential lots which is anticipated to be completed within the Loan Term.
The purpose of the Loan was to refinance existing bank debt used to acquire the Security Property and additional funding for working capital and other future investment purposes.
The Borrower Group is an established developer specialising in residential land development in north-west Sydney.
The Loan is anticipated to be repaid from the sale of the individual lots.
Target Return (P.A. net)7.2%
Loan to Value Ratio55%
Term to Run (Mths)10 Mths
Minimum Initial Investment$10,000
All Current Investments.
All loans are credit approved before being offered to investors. All target returns are net of fees.
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