Indooroopilly, QLD
Retail shops and a residence comprising a DA approved residential development site
The Loan is secured by first registered mortgage over strip shops and a residence, which together comprise a DA approved residential development site of 1,923m2, situated within the well-reagrded suburb of Indooroopilly, approximately 6km south west of the Brisbane CBD.
A DA approval for a 9 level building over four (4) basement levels was granted by the Brisbane City Council on 27 January 2023. The development includes ground floor retail, seven levels of residential accommodation providing 105 x 1 and 2 bedroom apartments, and a recreational roof terrace.
The Security Property is located within 150m of the Indooroopilly Rail Station and 500m of the Indooroopilly Shopping Centre anchored by David Jones, Myer, Coles and Woolworths.
A variety of private and public schools are located within a 2km radius. Nearby recreational facilities include St Lucia Golf Club (1.6km) and Indooroopilly Golf Club (3.4km).
The Guarantors are experienced property investors. They are well known to the Manager with numerous loans over the past 10 years conducted in a prompt and punctual manner.
- The Loan was advanced at a Loan to Value Ratio of 65%.
- The Target Return is 9.30% 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 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 24 July 2023 to 23 July 2024.
Investment Details
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Target Return
9.3% 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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