Fully Invested

Cheltenham, VIC

Residential apartments - Residual Stock Loan

The Loan is secured by first registered mortgage over four (4) residential apartments in Cheltenham, VIC, approximately 18km south east of the Melbourne CBD.

The Loan is a residual stock facility whereby the loan and LVR will reduce during the Loan Term from sales of the completed Security lots. On completion of the sale of a Security lot, the Loan facility will be reduced by the agreed net sale proceeds and these funds will be returned to Investors.

The Borrower Group is an experienced developer, having previously completed 10 other projects within the Melbourne metropolitan area spanning 25 years.

  • The Loan was advanced at a Loan to Value Ratio of 70%.
  • The Target Return is 5.40% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
  • The Loan is supported by an unlimited Director's guarantee and a General Security Agreement over the Borrower.
  • Interest for the Loan Term has been lodged on deposit.
  • The Loan Term is 6 months, subject to early or late repayment, from 23 September 2021 to 22 March 2022.

Investment Details

  • Target Return
    5.4% net
  • Loan to Value Ratio
    59%
  • Term
    3 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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