Highgate Hill, QLD

Approved residential development site

The Loan is secured by first registered mortgage over a development approved residential site located in Highgate Hill, QLD, approximately 3km south west of the Brisbane CBD.

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

The Security Property is located at Highgate Hill, QLD and is improved with a run-down residential dwelling adding little to no value to the site. The site rises steeply above road level and has been benched, retained and terraced into two (2) levels.

Highgate Hill is a well-regarded inner-city suburb 3km south west of the Brisbane CBD and within 2km of Southbank Parklands and the Mater Brisbane & Children’s Hospitals.

The Property is currently DA approved for the development of three (3) 4 bedroom residential units however the Borrower is proposing to change the approval to two (2) detached luxury houses on separate titles to accommodate market demand in the area.

• The Loan was advanced at a Loan to Value Ratio of 55%.
• The Target Return is 8.45% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by first registered mortgage, multiple unlimited joint and several personal and corporate guarantees and a General Security Agreement over the Borrower.
• Interest for the Loan Term has been lodged on deposit with the Manager.
• The Loan Term is 14 months, subject to early or late repayment, from 6 March 2023 to 5 May 2024.

Investment Details

• Target Return

  8.45% net

• Loan to Value Ratio

  55%

• 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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