Box Hill, VIC

Two (2) office buildings and a car park lot with future development potential

The Loan is secured by first registered mortgage over two (2) commercial office buildings and a car park lot with future development potential, located in Box Hill, VIC.

Box Hill is an established and rapidly developing suburb approximately 13km east of the Melbourne CBD. The Security Property is zoned 'Residential Growth'.

Preliminary planning discussions have taken place regarding the development of a commercial building comprising ground floor retail and medical suites.

The Security Property is located approximately 300m north of Whitehorse Road Tram Station, while Box-Hill Railway and the Box Hill Central Shopping Centre is approximately 700m north west of the subject. The railway station provides direct access to the Melbourne CBD.

The property benefits from a close proximity to educational institutions and parks as St Francis Parish Primary School and Box Hill Senior Secondary College are within a 2km radius and Box Hill Gardens and Kingsley Gardens are within a 1km radius.

The Security Property suits future redevelopment, being situated within the Health & Education Neighbourhood of Box hill and is located immediately opposite Box Hill Hospital.

Preliminary planning discussions have been held regarding the development of a commercial building comprising ground floor retail and medical suites.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trust (BDMIT) sub-trust known as the Poplar Street Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner and in accordance with loan documentation.

The Borrower Group is a highly experienced property development and investment group that specialises in the medium density and high density commercial and residential development space. They hold significant commercial real estate assets from which they generate substantial income that will be used to service the Loan.

The Borrower Group is well known to the Manager who has provided multiple loans to the Group. All facilities have been conducted in a prompt and punctual manner.

• The Loan was advanced at a Loan to Value Ratio of 65%.
• 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 joint and several guarantees and a General Security Agreement over the Borrower.
• The Manager has assessed the financial position of the Borrower and Guarantors as part of its credit approval process and is satisfied that they are financially capable to service (pay interest) a loan of this nature.
• The Loan Term is 12 months, subject to early or late repayment, from 30 June 2023 to 29 June 2024.

Investment Details

• Target Return

  8.95% net

• Loan to Value Ratio

  65%

• Term

  2 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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