Fully Invested

Box Hill, VIC

Adjoining residential lots with a planning permit for a mixed-use high rise redevelopment

The Loan is secured by a first registered mortgage over two (2) adjoining residential properties that comprise 1,486m2, within the established suburb of Box Hill, approximately 14km east of the Melbourne CBD.

The properties are zoned Residential Growth Zone (RGZ3), and are currently improved by two (2) older style residential dwellings. The combined site holds a Planning Permit for the demolition of existing structures and development of a 17 storey building to contain dwellings and ground floor food and drink premises. The purpose of the Loan was to acquire the Security Property.

The Security Property is well located in the Box Hill Medical Precinct, within the Box Hill Activity Centre, Precinct F, which encourages high density development. It is within 100m of Box Hill Hospital and Epworth Eastern, and the Box Hill Institute is located approximately 400m south west. The land benefits from frontage to Wellington Road, with additional laneway frontage to the south. It is within 300m of Box Hill Central Shopping Centre and transport interchange (train/bus/tram).

The Borrower Group is a highly experienced property development and investment group that specialises in the medium density and high density commercial and residential development space. They hold significant commercial real estate assets from which they generate substantial income that will be used to service the Loan.

The Borrower Group is well known to the Manager. 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 5.60% 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 9 September 2021 to 8 September 2023.

Investment Details

  • Target Return
    5.6% net
  • Loan to Value Ratio
    68%
  • Term
    21 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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