Marysville, VIC

141ha Rural Lifestyle Property

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

The Loan is secured by first registered mortgage over a 141ha rural property located in Marysville, VIC, approximately 4km north of Marysville centre and approximately 101km north east of the Melbourne CBD.

The property is presently improved by a weatherboard cottage dwelling with three (3) bedrooms and one (1) bathroom, which has recently been renovated.

The land is a mix of river flats and undulating/rolling country, divided into 19 paddocks each with concrete trough. The property is farmed in conjunction with another property on the western side of Marysville, running Angus beef breeding cattle. The property benefits from two (2) water licences totalling 415ML, 205ML from Elliotts creek and 210ML from the Steavenson River. Irrigation mains have been put in place to irrigate approximately 50% of the property.

The Loan is to assist with a 15 lot residential subdivision project at another property owned by the directors and Guarantors. Construction of that project is nearing completion and is expected to realise sufficient proceeds to repay the Loan in full.

The Borrower is well known to the Manager and previous loans have been conducted in a prompt and punctual manner. The directors and Guarantors are successful entrepreneurs who have had various business interests from accounting firms to hotels and serviced apartments to cattle breeding, and hold substantial net assets.

• The Loan was advanced at a Loan to Value Ratio of 50%.
• The Target Return is 9.20% 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 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 9 months, subject to early or late repayment, from 28 July 2023 to 27 April 2024.

Investment Details

• Target Return

  9.2% net

• Loan to Value Ratio

  50%

• 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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