Wadalba, NSW

Residential property with future development potential

The Loan is secured by first registered mortgage over a residential property located in Wadalba, NSW, approximately 4km north east of Wyong and 25km north of Gosford.

The property was rezoned predominantly 'R2 Low Density Residential' under NSW Government’s 'Gateway Determination' and Wyong LEP 2013.

The Manager is advised that the Borrower Group intends to seek Development Application (DA) approval for a 46 lot residential subdivision.

The Security Property has a total area of 4.244ha of which circa 3.2ha is developable. The property is improved with a single storey, 1 bedroom dwelling and several storage sheds which generate holding income.

The Loan is anticipated to be repaid via refinance for construction once development approval is achieved.

• The Loan was advanced at a Loan to Value Ratio of 22%.
• 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 first registered mortgage and a General Security Agreement over the Borrower.
• 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 9 June 2023 to 8 June 2024.

Investment Details

• Target Return

  9.2% net

• Loan to Value Ratio

  22%

• 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.

Start now by investing in an individual loan to commence building your own first mortgage investment portfolio with Balmain Private.