Austral, NSW
Residential subdivision site
The Loan is secured by first registered mortgage over a 1.214ha residential development site located in the Western Sydney Priority Growth Area of in Austral, NSW, approximately 50km south west of the Sydney CBD.
The purpose of the Loan was to assist in the purchase of the Security Property for future re-development.
The Security Property is located within the Western Sydney Priority Growth Area of Austral and is zoned 'R2 Low Density Residential' and is currently improved with a single residential dwelling and miscellaneous ancillary improvements.
The Borrower has prepared a Development Application (DA) for subdivision of the site into 30 residential lots ranging from 300m2 to 394m2.
The Borrower Group is a substantial and successful residential land developer with over 25 years’ experience in land subdivisions in the western suburbs of Sydney. The Borrower Group is well known to the Manager and all previous facilities have been managed in a professional manner and repaid punctually.
The Loan is anticipated to be renewed for a further term or refinanced at the end of the Loan Term until construction is ready to begin.
- The Loan was advanced at a Loan to Value Ratio of 60%.
- The Target Return is 9.20% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by an unlimited Director's guarantee and a General Security Agreement over the Borrower.
- Interest for the initial 3 months of the Loan Term has been lodged on deposit.
- The Loan Term is 16 months, subject to early or late repayment, from 17 April 2023 to 16 August 2024.
Investment Details
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Target Return
9.2% net -
Loan to Value Ratio
60% -
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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