Fully Invested

Oakden, SA

Masterplan approved residential development site

The Loan is secured by a first registered mortgage over a residential development site in Oakden, SA approximately 9.5km north east of the Adelaide GPO.

The Security Property comprises 40,590m2 of gently sloping land zoned 'Master Planned Neighbourhood'.

The property holds Planning Consent from the South Australia State Planning Commission as well as City of Port Adelaide Enfield DA approval for a 98 lot residential subdivision. 

The property is well serviced by a range of community supporting services including local shopping, schools, park reserves and public transport.

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

The Security Property forms the second stage of a multi-staged contract of sale agreement for a substantial master planned residential estate that will eventually comprise 52ha and deliver around 1,500 dwellings. Construction of Stage 1 is well advanced with over 100 contracts of sale for completed lots held across Stages 1 & 2.

The Loan is anticipated to be repaid by refinance of the Security Property into a construction loan. Alternatively, the Borrower has capacity to complete construction of the proposed subdivision utilising their own resources and funds.

The Borrower Group is well known to the Manager and has 30 years’ experience in the development of residential subdivisions in most of Australian major population centres including Adelaide.

  • The Loan was advanced at a Loan to Value Ratio of 60%.
  • The Target Return is 9.10% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
  • The Loan is secured by first registered mortgage and a General Security Agreement over the Borrower and a related corporate entity. A related entity of the Borrower Group which has significant capital and assets has also guaranteed the Loan.
  • Interest for the Term of the Loan has been lodged on deposit with the Manager.
  • The Loan Term is 12 months, subject to early or late repayment, from 30 May 2023 to 29 May 2024.

Investment Details

  • Target Return
    9.1% net
  • Loan to Value Ratio
  • 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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