Werribee, Vic

Rural residential property - future industrial development potential

The Loan is secured by first registered mortgage over an 81.52ha rural residential property with industrial development potential in Werribee, VIC, approximately 40km south west of the Melbourne CBD.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as Browns Road No. 2 Sub-Trust and provide a release of equity for working capital purposes. The Borrower conducted the previous sub-trust in a prompt and punctual manner and in accordance with loan documentation.

The Security Property is located within the Urban Growth Boundary identified within the proposed Werribee Junction Precinct Structure Plan (PSP) area, that is in a pre-commencement phase.

The Security Property is situated on 81.52ha of 'Farming Zone (FZ1)' land. The property is currently improved with an older style weatherboard dwelling, ancillary shedding, a large machinery shed and modest equine facilities.

The Borrower Group are experienced business owners and property investors who hold a very significant property portfolio.

• The Loan was advanced at a Loan to Value Ratio of 54%.
• The Target Return is 8.95% 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 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 12 months, subject to early or late repayment, from 26 May 2023 to 25 May 2024.

Investment Details

• Target Return

  8.95% net

• Loan to Value Ratio

  54%

• 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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