Fully Invested

St Ives, NSW

Vacant Residential lot

This Loan refinanced the Carbeen Avenue No. 2 Sub-Trust. The loan was maintained by the Borrower in a prompt and punctual fashion and the Manager undertook a new credit assessment and renewed the loan for a further term with Loan documentation containing new Loan terms and conditions.  

Investors in the previous Carbeen Avenue No. 2 Sub-Trust have been fully repaid.

The Loan is secured by a first registered mortgage over an 871.9m² cleared residential development site in St Ives, NSW, approximately 20km north west of the Sydney CBD.

The property is zoned 'R2 Low Density Residential' which permits home occupation without consent. The Borrower intends to undertake the development of a large single dwelling on the site during the Loan Term and has engaged a third-party builder to complete construction. The Borrower will fund the construction costs from their own cash reserves.

The Borrower Group are experienced property investors and developers and are active within Sydney’s North Shore area. The Borrowing Group is well known to the Manager and previous loans have been well conducted.

  • The Loan was advanced at a Loan to Value Ratio of 65%.
  • The Target Return is 6.95% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
  • The Loan is supported by multiple joint and several personal guarantees and a General Security Agreement over the Borrower.
  • Interest for the initial 12 months of the Loan Term has been lodged on deposit with the Manager.
  • The Loan Term is 18 months, subject to early or late repayment, from 23 March 2021 to 22 September 2022.

Investment Details

  • Target Return
    6.95% net
  • Loan to Value Ratio
  • Term
    14 Months

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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