Fully Invested

Griffith, NSW

Residential development site

The Loan is secured by first registered mortgage over a residential subdivision site located in Griffith, NSW, a major regional city in the Murrumbidgee Irrigation Area of NSW.

The purpose of the Loan was to provide capital to assist with the construction of 18 houses on the residual lots in Stage 3 and complete civil works in Stages 4 and 5.

The property was acquired by the Borrower in 2018 and the entire development was approved for a 149 lot residential subdivision to be completed in five (5) stages. Stages 1 & 2 have been completed from the Borrower's own cash funds.

The Security for this Loan is Stage 3 (47 completed lots) and Stages 4 & 5 which are DA approved for subdivision into 58 lots. The Borrower has commenced subdivision works on Stages 4 & 5. This work is scheduled to complete in February 2023.

All lots have easy access to shopping facilities, sporting ovals and educational facilities and are only a short walk to the corridor linking Collina and Scenic Hill Reserve. The lots are fully serviced and the NBN is fibre optic to the premises.

The Borrower Group have substantial experience in commercial and residential property development and investment, developing over $95MM in commercial and residential property, in the surrounding district over the last 20 years.

  • The Loan was advanced at a Loan to Value Ratio of 55%.
  • The Target Return is 9.15% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
  • The Loan is supported by multiple joint and several guarantees and a General Security Agreement over the Borrower.
  • Interest for the Loan Term has been lodged on deposit with the Manager.
  • The Manager has assessed the financial position of the Borrower and Guarantors and is satisfied that they are financially capable to service a loan of this nature.
  • The Loan Term is 18 months, subject to early or late repayment, from 9 December 2022 to 8 June 2024.

Investment Details

  • Target Return
    9.15% net
  • Loan to Value Ratio
    55%
  • 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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