Musselroe Bay, TAS

Rural Coastal Farmland – Currently Leased

The Loan is secured by a first registered mortgage over a 1,473.6ha coastal property held on two (2) titles located in Musselroe Bay, TAS, situated approximately 153km north east of the Launceston CBD.

The purpose of the Loan was to assist with the acquisition of the Security Property. The Borrower has contributed their own funds towards the purchase of the property, including acquisition costs. 

Musselroe Bay is a rural locality and body of water in the local government area of Dorset, TAS. The unique location is known for its abundant nature and stunning water views, making it a popular destination for campers and birdwatchers. This remote part of the Tasmanian coastline is renowned for its white sand beaches.

Currently erected on the site is a circa 1990’s brick dwelling and an implement shed. Other improvements comprise a central access track to the dwelling and a well formed airstrip.

The property is leased to Robinson’s Meats, a reputable Tasmania based meat supplier, generating net rental income.

The Director of the Borrower operates a Melbourne based property development company.

• The Loan was advanced at a Loan to Value Ratio of 50%.
• The Target Return is 7.65% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by Director’s guarantee and a General Security Agreement over the Borrower.
• Interest is to be paid by the Borrower monthly in advance.
• The Manager has assessed the financial position of the Borrower and Guarantor as part of its credit approval process and is satisfied that they are financially capable to service (pay interest) a loan of this nature.
• The Loan Term is 24 months, subject to early or late repayment, from 14 July 2022 to 13 July 2024.

Investment Details

• Target Return

  7.65% net

• Loan to Value Ratio

  50%

• Term

  2 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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