Ashwood, VIC

Three (3) fully leased office/warehouses on a Planning Permit approved residential/commercial development site

The Loan is secured by first registered mortgage over a mixed-use development site located in the well regarded middle-ring Melbourne suburb of Ashwood, VIC. The property is presently improved with three (3) detached office/warehouses plus hard stand and carparking.

The purpose of the Loan was to refinance an existing Balmain facility.

The Security Property sits on a large irregular shaped site of approximately 14,910m². The site benefits from extensive street frontage to Warrigal Road and Elliott Street and is approximately 14km south east of the Melbourne CBD.

The site is currently zoned 'Mixed Use' under the Monash Planning Scheme. The property benefits from an approved Planning Permit granted on 31 March 2021 for a mixed use residential/commercial/hotel re-development allowing five (5) x 9 to 11 story buildings comprising 361 apartments, 6,554m² of office and retail space, a hotel/serviced apartment component comprising 2,449m² and 676 car parks. 

The property is located in a prominent location in Ashwood, VIC and is surrounded by high density apartment buildings. It is in close proximity to local transport and retail amenities including Chadstone Shopping Centre, Australia’s largest Super Regional Shopping Centre, which is approximately 2km to the south.

The Borrower Group has substantial experience in mixed-use property investment and development in the Melbourne area. They have developed over $800MM of mixed-use property projects over the last 12 years.

The Borrower Group is well known to the Manager who has provided multiple loans to the Group over the past 8 years.  All facilities have been conducted in a prompt and punctual manner.

• The Loan was advanced at a Loan to Value Ratio of 61%.
• The Target Return is 8.85% 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 considered sufficient for the Term of the Loan 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 24 February 2023 to 23 August 2024.

Investment Details

• Target Return

  8.85% net

• Loan to Value Ratio

  61%

• Term

  3 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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