Open for Investment
Fortitude Valley, QLD
The Loan is a Residual Stock Loan secured by a first registered mortgage over 150 strata titled residential apartments in the recently completed ‘Utopia’ development in Fortitude Valley, QLD, approximately 1.5kms north east of the Brisbane CBD.
'Utopia' is a new residential complex completed by the Borrower Group in early 2020. The development comprises 300 apartments as well as ground level retail and commercial tenancies over 25 storeys. Of the 300 apartments, 106 have been sold, 150 form security for this Loan and 44 are held unencumbered by the Borrower Group.
The 150 units in the security pool comprise a mixture of one, two, and three-bedroom units ranging in size from 50m2 to 115m2.
The purpose of the Loan was to refinance construction finance.
The Director of the Borrower is an Australian permanent resident who has a background in breweries and chain restaurants in China. More recently the Borrower Group has diversified into property development.
Target Return (P.A. net)7.25%
Loan to Value Ratio57%
Term to Run (Mths)16 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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