Scoresby, VIC

Residential redevelopment site with single level dwelling

The Loan is secured by first registered mortgage over a residential redevelopment site located in the Melbourne suburb of Scoresby, VIC. 

The purpose of the Loan was to acquire the Security Property.

The subject site is situated nearby a full range of services and facilities, including the Scoresby Retail Precinct and the Westfield Knox Shopping Centre.

Bus services are located nearby, with Ferntree Gully Railway Station being in proximity.

The Borrower Group are experienced property investors and developers based in Melbourne, who have completed projects of similar nature in the surrounding area.

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

• The Loan was advanced at a Loan to Value Ratio of 44%.
• The Target Return is 8.60% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by Directors’ guarantees and a General Security Agreement over the Borrower.
• Interest for the Term of the Loan is lodged on deposit with the Manager.
• The Loan Term is 18 months, subject to early or late repayment, from 21 December 2022 to 20 June 2024.

Investment Details

• Target Return

  8.6% net

• Loan to Value Ratio

  44%

• Term

  1 Month

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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