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Box Hill, VIC

Commercial site with high density redevelopment potential

The Loan is secured by a first registered mortgage over a commercial site of 920m2, situated within the established suburb of Box Hill, approximately 14km east of the Melbourne CBD.

The property is currently improved by a retail showroom which is tenanted by a chemist warehouse on a short-term basis.

The purpose of the Loan was to acquire the Security Property.

The Security Property is ideally located in the heart of Box Hill Central within the Box Hill Activity Centre, Precinct F, which encourages high density development, along a major arterial road. It is within 100m of Box Hill Central Shopping Centre and transport interchange (train/bus/tram).

The site represents a high rise redevelopment site subject to development approval.

The Borrower Group are experienced property investors and developers based in Melbourne who hold significant net assets and generate substantial income through their real estate holdings.

The Borrower Group is well known to the Manager, and all previous facilities have been conducted in a prompt and punctual manner.

  • The Loan was advanced at a Loan to Value Ratio of 68%.
  • The Target Return is 5.30% 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.
  • Interest is to be paid by the Borrower monthly in advance. The Manager has assessed the financial position of the Borrower and Guarantors and is satisfied that they are financially capable to service a loan of this nature.
  • The Loan Term is 24 months, subject to early or late repayment, from 8 July 2021 to 7 July 2023.

Investment Details

  • Target Return
    5.3% net
  • Loan to Value Ratio
    68%
  • Term
    18 Months
  • Minimum Initial Investment
    $10,000

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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