6 bedroom, 6 bathroom oceanfront property
The Loan is secured by a first registered mortgage over a 6 bedroom, 6 bathroom oceanfront property on 2,024m2 located in the Gold Coast suburb of Tugun, QLD.
The purpose of the Loan was to refinance existing debt.
The subject site is situated approximately 25km south of Surfers Paradise and 20km south of the Southport CBD. The property is located 25m (across the road) from Tugun beach, 400m from Tugun Market Co. Shopping Centre and within 5km of the Gold Coast Airport.
The Borrower is a Special Purpose Vehicle. The Director of the Borrower owns and operates a large and successful manufactured home park operation located in five (5) separate Queensland locations.
- The Loan was advanced at a Loan to Value Ratio of 47%.
- The Target Return is 5.35% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by the sole Director’s guarantee and a General Security Agreement over the Borrower.
- The Manager has assessed the financial position of the Borrower and Guarantor and is satisfied that they are financially capable to support a loan of this nature.
- Interest for the Term of the Loan has been lodged on deposit with the Manager.
- The Loan Term is 9 months, subject to early or late repayment, from 9 March 2022 to 8 December 2022.
Target Return5.35% net
Loan to Value Ratio47%
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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