Cleveland, QLD

Two (2) residential development sites – DA approved

The Loan is secured by first registered mortgage over two (2) Development approved residential sites located in Cleveland, QLD, approximately 30km south east of the Brisbane CBD.

The purpose of the Loan was to assist with the purchase of one (1) of the Security Properties.

The Security Properties are approximately 200m apart from each other and are zoned ‘Medium Density Residential’ under the Redland City Plan 2018.

Each site holds a separate DA approval for an 8 unit apartment complex and a 10 unit apartment complex.

The properties have strong development potential due to their eastern aspect providing uninterrupted views of Moreton Bay as well as the surrounding infrastructure, public transport, and recreational amenity.

The Director of the borrowing entity is known to the Manager and are experienced in the property development industry. 

The Loan is anticipated to be repaid from refinance into a construction loan or sale of the site with Development approval.

• 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 secured by first registered mortgage, joint and several personal guarantees and a General Security Agreement over the Borrower.
• The Loan Term is 12 months from 19 July 2023 to 18 July 2024 (subject to early or late repayment).
• Interest for the Term of the Loan has been lodged on deposit with the Manager.

Investment Details

• Target Return

  9.2% net

• Loan to Value Ratio

  60%

• 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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