Cleared industrial land
The Loan is secured by a first registered mortgage over an industrial development site located in the south west Brisbane suburb of Bundamba QLD. The property is presently cleared and ready for development.
The purpose of the Loan was to acquire the Security Property. The subject site is situated approximately 8km north east from the Ipswich CBD and 35km south west from the Brisbane CBD.
The site is well located, within Citiswich Business Park, which is situated in close proximity to major transport routes, adjoining the Warrego Highway and is situated in close proximity to the Cunningham Highway, Logan Motorway and Ipswich Motorway.
Citiswich will connect businesses to the major transport and economic flows to and from the south east corner of QLD. Citiswich Business Park master planned estate is a 350ha estate and is one of Queensland’s largest master planned industrial developments. The lots have been marketed as “Premium industrial estate located within the logistics hub of Brisbane’s south-western corridor".
The subject property comprises a 'Regional Business and Industry' zoned development site of 25,640m2, with 10,050m2 developable.
The repayment of the Loan is expected to come through refinance to a construction loan to develop the property. The Borrower will lodge a Development Application for the construction of a 2,679m2 warehouse.
The Borrower Group are experienced property investors and developers based in Brisbane. The Borrower Group generates substantial income through its real estate holdings as well as holding substantial net assets.
- The Loan was advanced at a Loan to Value Ratio of 60%.
- The Target Return is 5.70% 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 10 March 2022 to 9 March 2023.
Target Return5.7% net
Loan to Value Ratio60%
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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