Residential apartment building with commercial tenancies - future development site
The Loan is secured by a first registered mortgage over a mixed-use development site located in the Sydney suburb of Lidcombe, NSW. The property is presently improved with a 2 storey residential/commercial building.
The purpose of the Loan was to acquire the Security Property.
The subject site is situated adjacent to the Lidcombe Railway Station on the northern side of Church Street, Lidcombe. It is approximately 18km west of the Sydney CBD and approximately 9km east of Parramatta. The site is well located and close to local shopping facilities.
The Borrower Group are experienced property investors and developers based in Sydney. The Borrower Group generates substantial income through its real estate holdings as well as holding substantial net assets.
The Borrower Group is well known to the Manager who has provided a previous loan to the Group. All facilities have been conducted in a prompt and punctual manner.
- The Loan was advanced at a Loan to Value Ratio of 69%.
- The Target Return is 5.80% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by 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 22 March 2022 to 21 March 2023.
Target Return5.8% net
Loan to Value Ratio69%
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.
Start now by investing in an individual loan to commence building your own first mortgage investment portfolio with Balmain Private.