Norwest, NSW

DA Approved – commercial development site

The Loan is secured by first registered mortgage over a DA approved Commercial development site plus an additional road widening lot, which forms part of a larger parent development located in Norwest, NSW, approximately 36km north west of the Sydney CBD.

The purpose of the Loan was to refinance the existing Balmain Discrete Mortgage Income Trusts (BDMIT) known as Treffone Avenue Sub-Trust for a further term. The Borrower conducted the previous sub-trust in a prompt and punctual manner.

The Borrower is a Special Purpose Vehicle (SPV) set up to own and develop the site. The Directors have substantial experience in commercial property investment and development across a range of sectors over the past 20 years.

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 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 18 October 2023 to 17 October 2024.

Investment Details

• Target Return

  9.2% net

• Loan to Value Ratio

  65%

• Term

  5 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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