Beaconsfield, VIC

Two (2) Individually titled super lots within a permit approved development site

This Loan is secured by first registered mortgage over two (2) individually titled super lots within a residential land subdivision site in Beaconsfield, VIC, approximately 50km south east of the Melbourne CBD.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the Iceberg No. 3 Street Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner.

The Security Properties form part of the Borrower’s master planned ‘Beaconsfield Wattle Estate’, which is a permit approved, staged residential land subdivision development of 70 residential lots.

The Security Properties comprise two (2) land lots comprising a total of 12,956m² , which is anticipated to be subdivided into a further 21 residential lots across two (2) adjoining Security Properties. 

The Security Properties are located within a developing residential area, approximately 3km from Beaconsfield Railway Station. Surrounding environment comprises a mix of larger rural style properties, vacant land, modern dwellings and new residential subdivisions under construction.

The Security Properties are well located near all relevant services and amenities, with a range of primary schools within 4km as well as Lakeside Square shopping centre and Eden Rise Village Centre within 5.5 km, providing all necessary retail amenities.

The Borrower Group is an experienced residential property development company based in Melbourne. They have completed various townhouse, apartment and land subdivision projects in the mid and outer south-eastern suburbs of Melbourne. The Borrower Group also holds considerable real estate 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 65%.
• 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 multiple joint and several guarantees and a General Security Agreement over the Borrower.
• Interest is to be paid by the Borrower monthly in advance.
• 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 12 months, subject to early or late repayment, from 31 August 2023 to 30 August 2024.

Investment Details

• Target Return

  9.2% net

• Loan to Value Ratio

  65%

• Term

  4 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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