Fully Invested

Rose Bay, NSW

Residential building – 6 residential units

The Loan is secured by a first registered mortgage over a 3 storey residential flat building comprising of six (6) strata titled flats located in the sought after suburb of Rose Bay, NSW, approximately 7km east of the Sydney CBD.

The Security Property has a land area of 1,216m2 of 'R3 Medium Density Residential' zoned land and is currently improved with a ‘Victorian’ style 3 storey residential flat building comprising of six (6) flats over lower ground car parking.

The purpose of the Loan was to assist with the acquisition of the Security Property.

The Borrower has lodged a development application for alterations and additions to the existing 3 storey residential flat building to comprise of an additional six (6) home units over 2 levels of basement car parking for 12 vehicles via a car lift system.

The Borrower Group is well known to the Manager, operates a successful property development business and has previously completed a range of development projects in Sydney, including in the Eastern Suburbs.

The Loan is anticipated to be refinanced for construction once development approval and a sufficient level of pre-sales are achieved to meet debt funding requirements.

  • The Loan was advanced at a Loan to Value Ratio of 60%.
  • 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 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 16 December 2021 to 15 December 2022.

Investment Details

  • Target Return
    5.4% net
  • Loan to Value Ratio
    60%
  • Term
    6 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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