Approved residential development site
The Loan is secured by a first registered mortgage over an 8.976ha residential development site in Dural, NSW, approximately 36km north west of the Sydney CBD.
The property is zoned part 'E3 Environmental Management' and 'RU2 Rural Landscape' under the Hornsby Local Environmental Plan 2013
The Borrower has achieved Development Application approval to subdivide the site into four (4) residential lots. The four (4) residential lots will range in size from 2.12ha to 2.432ha. A Subdivision Works Certificate was issued on 19 January 2021 and civil works have since commenced on the site.
The Borrower Group have significant experience in property development and investment, hold meaningful property assets in Australia and are well known to the Manager.
- The Loan was advanced at a Loan to Value Ratio of 65%.
- The Target Return is 6.70% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by a guarantee from a related corporate entity and a General Security Agreement over the Borrower.
- Interest for the duration of the Loan Term has been lodged on deposit.
- The Loan Term is 9 months, subject to early or late repayment, from 12 March 2021 to 11 December 2021.
Target Return6.7% net
Loan to Value Ratio65%
Full details, unique to each investment, are provided to Investors in a Supplementary PDS. These detailed Supplementary PDS’s are only available to Investors in Balmain Private.
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