Fully Invested

Marmong Point, NSW

Residential aged care development site

The Loan is secured by a first registered mortgage over a 32.753ha residential aged care development site located in the lakeside suburb of Marmong Point, NSW, approximately 23km north east of Newcastle.

The Security Property holds development approval for the construction of a retirement village to comprise 94 independent living units within 47 double storey buildings.

The advance is a short-term bridging loan for working capital purposes. The property was owned unencumbered prior to this advance.

The property is under an exchanged contract of sale with settlement due within the Loan Term.  

The Borrower Group is a significant and established aged care operator in the Hunter Region of NSW. The 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 50%.
  • The Target Return is 5.50% 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 for the Loan Term has been lodged on deposit with the Manager.
  • The Loan Term is 18 months, subject to early or late repayment, from 8 October 2021 to 7 April 2023.

Investment Details

  • Target Return
    5.5% net
  • Loan to Value Ratio
    50%
  • Term
    15 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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