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Ashmore, QLD

Commercial - future development site

The Loan is secured by a first registered mortgage over a residential development site located in the well-established suburb of Ashmore, QLD, approximately 7km south west of the Southport CBD.

The Security Property comprises a site area of 9,020m2 which is improved with a mixed-use commercial building and also a detached residential dwelling.

The existing improvements provide some passing income however a development application has been lodged to demolish the existing improvements and construct a 5,290m2 local retail complex. Harris Farm has provided an expression of interest to lease 1,500m2 of the proposed complex.

Ashmore is an established mixed-use Gold Coast suburb predominately comprising established residential dwellings with retail/commercial and industrial uses located along several arterial roads.

The Borrower is a joint venture between three (3) Queensland based families with experience in various industries including transport, property investment and development, and financial planning/accounting.

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

  • The Loan was advanced at a Loan to Value Ratio of 65%.
  • The Target Return is 5.45% 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 Term of the Loan has been lodged on deposit with the Manager.
  • The Loan Term is 12 months, subject to early or late repayment, from 23 December 2021 to 22 December 2022.

Investment Details

  • Target Return
    5.45% net
  • Loan to Value Ratio
    65%
  • Term
    11 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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