Elsternwick, VIC

Nine (9) Commercial/Retail Units – Residual Stock Facility

The Loan is secured by first registered mortgage over nine (9) recently completed strata title commercial/retail lots and 39 basement car parks in the well-regarded Melbourne suburb of Elsternwick, VIC. Approximately 8km south east of the Melbourne CBD.

The development has only recently been completed. The upper levels comprise 108 residential apartments which do not form security for this Loan.

Leasing demand for the commercial and retail units has been strong with four (4) out of the seven (7) units already leased on 3-10-year terms with 5-10-year options.

The subject property is conveniently located within 100m from Elsternwick Railway Station, providing regular services from Sandringham to the Melbourne CBD.

The Borrower Group are experienced property investors and developers based in Melbourne.

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 70%.
• The Target Return is 9.70% 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 Loan Term is 10 months, subject to early or late repayment, from 20 July 2023 to 19 May 2024.

Investment Details

• Target Return

  9.7% net

• Loan to Value Ratio

  70%

• 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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