Box Hill, VIC

Commercial property

This Loan refinanced the Station Street No. 2 Sub-Trust. The loan was maintained by the Borrower in a prompt and punctual fashion and the Manager undertook a new credit assessment and renewed the Loan for a further Term with loan documentation containing new Loan terms and conditions.

Investors in the previous Station Street No. 2 Sub-Trust have been fully repaid.

The Loan is secured by first registered mortgage over a commercial property situated on a 1,090m² corner site located in Box Hill, VIC, approximately 13km east of the Melbourne CBD.

The property is currently utilised as a single level warehouse/workshop and is leased to a car wash operator. The property represents a future development site with holding income, strategically located in the popular Melbourne suburb of Box Hill.

The Borrower Group are experienced property investors, developers and business operators based in Melbourne with substantial assets. The Borrower Group generates substantial income through its real estate holdings as well as operating profits from Group entities.

The Borrower Group is well known to the Manager and previous loans have been conducted in a prompt and punctual manner.

• The Loan was advanced at a Loan to Value Ratio of 60%.
• The Target Return is 8.10% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by multiple personal and corporate guarantees and a General Security Agreement over the Borrower.
• Interest for the first 6 months of the Loan Term has been lodged on deposit with the Manager.
• The Loan Term is 18 months, subject to early or late repayment, from 7 November 2022 to 6 May 2024.

Investment Details

• Target Return

  8.1% net

• Loan to Value Ratio

  60%

• Term

  0 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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