Fully Invested

Strathtulloh, VIC

Planning Permit approved residential development site

The Loan is secured by a first registered mortgage over a Planning Permit approved residential development site located in Strathtulloh, VIC, approximately 37km north west of the Melbourne CBD.

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

Strathtulloh is seeing significant large-scale estate development and, once fully developed, is estimated to accommodate 8,140 new dwellings and a resident population of 22,800.

Surrounding development is predominately residential housing and residential development. The partially completed Harmony Estate is directly east, together with the completed Milestone Estate to the south.

The Borrower secured a Planning Permit on 8 September 2021 from Melton City Council allowing for the subdivision into 484 lots and a childcare and medicare centre. The proposed development is to be redeveloped over 14 stages.

The Toolern Precinct Structure Plan (PSP) provides for the development of retail, educational, and recreational amenities. The development of these facilities will occur with the establishment of population, with Melton the closest commercial centre to the west.

The Woodgrove Shopping Centre on High Street, Melton provides 160 speciality stores. The Woodlea Town Centre is approximately 10km north east. Educational facilities in proximity to the property include Rockbank Primary School, Catholic Regional College, Melton South Primary School and Staughton College.

The Borrower Group is a fast-growing Melbourne based property development company that specialises in townhouse developments and land lot subdivisions across Melbourne’s fastest growing corridors. They have developed over $85MM worth of townhouse projects.

The Directors have substantial experience in property investment and development and hold a significant net asset position.

  • The Loan was advanced at a Loan to Value Ratio of 54%.
  • The Target Return is 9.45% 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.
  • Interest for the initial 8 months of the Loan Term has been lodged on deposit with the Manager.
  • The Manager has assessed the financial position of the Borrower and Guarantors and is satisfied that they are financially capable to service a loan of this nature.
  • The Loan Term is 12 months, subject to early or late repayment, from 1 August 2023 and 31 July 2024.

Investment Details

  • Target Return
    9.45% net
  • Loan to Value Ratio
    54%
  • 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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