Augustine Heights, QLD
Large vacant commercial development site in Augustine Heights, QLD
The Loan is secured by a first registered mortgage over two (2) contiguous vacant commercial allotments with a combined area of 4,395m2 in the emerging suburb of Augustine Heights, QLD, approximately 35km south west of Brisbane CBD.
The Security Property is within close proximity to a variety of retail and recreational amenities and is situated within an industrial estate known as ‘Vicinity’, providing a mix of commercial, retail and warehouse spaces.
The purpose of the Loan was to assist with the purchase of the Security Property.
The Security Property is proposed for a purpose-built gymnasium building comprising a Gross Floor Area (GFA) of 1,974m2 featuring 113 podium and external parking bays with ground level reception, open gym area, childcare area, several offices and amenities and two (2) open mezzanine floors.
DA for the development has been lodged with the council and is anticipated to be achieved within the Loan Term.
The Borrower Group is an experienced property development company that specialises in delivering commercial projects both as owner builder and for third party buyers.
- The Loan was advanced at a Loan to Value Ratio of 60%.
- 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 guarantees and a General Security Agreement over the Borrower.
- The Manager has assessed the financial position of the Borrower and Guarantors and is satisfied that they are financially capable to support a loan of this nature.
- The Loan Term is 6 months, subject to early or late repayment, from 29 March 2021 to 28 September 2021.
Target Return6.95% net
Loan to Value Ratio60%
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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