Fully Invested

Brighton, VIC

Two (2) Neighboring Residential & Commercial Development sites

The Loan is secured by first registered mortgage over a two (2) neighbouring (residential and commercial) development sites located in Brighton, VIC, approximately 11km south east of the Melbourne CBD.

The purpose of the Loan was to refinance the existing loan and provide working capital for the proposed development.

The site is zoned 'Commercial (C1Z)' by the Bayside City Council and comprises 4,078m2 of primarily vacant land and a small warehouse to the eastern portion of the land.

The Bay Street property was Permit Approved on the 12 May 2018 for a 1,676.7m2 commercial building over four (4) floors. The property will include a ground level retail showroom, and three (3) upper-level office floors.

The New Street property was Permit Approved on the 16 July 2019 for a 5 level building over two (2) basement levels. The building will include 26 x 2 bedroom apartments, 15 x 3 bedroom apartments, three (3) penthouse apartments, a communal pool & courtyard, two (2) retail premises, 239 car spaces and a gym. Each of the penthouse apartments will include a private pool.

The Borrower Group are experienced property investors and developers based in Melbourne. The Borrower Group generates substantial income through its real estate holdings as well as holding substantial net assets.

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 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 supported by joint and several guarantees and a General Security Agreement over the Borrower.
  • The Manager has assessed the financial position of the Borrower and Guarantors as part of its credit approval process and is satisfied that they are financially capable to service (pay interest) a loan of this nature.
  • The Loan Term is 18 months, subject to early or late repayment, 9 August 2023 to 8 February 2025.

Investment Details

  • Target Return
    9.2% net
  • Loan to Value Ratio
  • Term
    7 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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