Lilydale, VIC

Residential property forming a townhouse development site

The Loan is secured by a first registered mortgage over a residential property with future development potential located in Lilydale, VIC approximately 36km north east of the Melbourne CBD.

The Security Property has a land area of 1,018m² and is currently improved with a single-storey residential dwelling.

The Borrower intends to submit plans for planning permit approval for re-development of the Security Property into nine (9) residential townhouses over three (3) levels.

The purpose of the Loan was to assist in the acquisition of the Security Property.

The Borrower Group have completed a number of successful townhouse development projects across Melbourne, run a successful garment wholesaling business and hold significant net property assets.

The Loan is anticipated to be repaid via a refinance for construction once a planning permit is achieved.

• The Loan was advanced at a Loan to Value Ratio of 65%.
• 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 joint and several unlimited personal 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 18 months, subject to early or late repayment, from 9 November 2022 to 8 May 2024.

Investment Details

• Target Return

  8.1% net

• Loan to Value Ratio

  65%

• 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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