Epping, VIC

Planning Permit approved residential development site

The Loan is secured by first registered mortgage over a vacant residential development site located in Epping, VIC, approximately 21km north of the Melbourne CBD.

The Security Property comprises 6,335m² of 'Comprehensive Development' zoned land that is within the south-western precinct of the ‘Aurora Development Plan’ and has been earmarked for medium-density residential development.

A Planning Permit was issued by the Whittlesea City Council in April 2023, allowing for the development of 29 double storey townhouses.

The subject property is well located near necessary services and amenities. Aurora Village is located approximately 750m north east of the subject property and is anchored by a Coles and Aldi supermarket, whilst also providing a variety of retail amenities. Additionally, public bus services are located approximately 350m to the east along Edgars Road. Public Transport Victoria have also proposed a train corridor and a future train station approximately 1.1km to the north east.

The Borrower Group are experienced developers and builders of residential homes operating in Melbourne, Sydney, Brisbane and Adelaide. The Borrower Group generates substantial income through its construction business and holds significant net assets.

The Borrower Group is well known to the Manager who has provided previous loans to the Group. The Manager has assessed the financial position of the Borrower and Guarantor and is satisfied that they are financially capable to support a loan of this nature.

• The Loan was advanced at a Loan to Value Ratio of 65%.
• The Target Return is 8.65% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is secured by first registered mortgage, corporate guarantee and a General Security Agreement over the Borrower.
• Interest is to be paid by the Borrower monthly in advance.
• The Loan Term is 12 months, subject to early or late repayment, from 18 August 2023 to 17 August 2024.

Investment Details

• Target Return

  8.65% net

• Loan to Value Ratio

  65%

• Term

  3 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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