Wantirna, VIC

Residential Development Site

The Loan is secured by first registered mortgage over a 1,425m² regular shaped redevelopment site located in Wantirna, VIC, approximately 24km east of the Melbourne CBD.

The site is zoned ‘Residential Growth (RGZ1)’ under the Knox City Council Planning Scheme. It is presently improved by two (2) single level dwellings.

The purpose of the Loan was to assist with the acquisition of the Security Property and refinance an existing debt.

The Security Property is located in close proximity to all necessary services and amenities. The Wantirna Mall retail precinct and Westfield Knox Shopping Centre, are both within approximately 2km of the subject and provide a wide range of retail options. Knox Private Hospital is situated approximately 1km west of the subject.

The site also benefits from proximity to public transport. Local bus services, including a local bus exchange are located immediately to the front of the subject property and the Bayswater Railway Station is approximately 3km to the north.

The Borrower is a Special Purpose Vehicle (SPV) established for the sole purpose of acquiring and developing the Security Property. The Borrower Group have completed a number of successful townhouse development projects across Melbourne, run a successful garment wholesaling business and hold significant 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 9.45% 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 18 months, subject to early or late repayment, from 18 October 2023 to 17 April 2025.

Investment Details

• Target Return

  9.45% net

• Loan to Value Ratio

  65%

• Term

  11 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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