Epping, VIC

Six (6) warehouse units with front office accommodation

The Loan is secured by first registered mortgage over six (6) warehouse units with front office accommodation located in the established industrial precinct of Epping, VIC, approximately 19km north of the Melbourne CBD.

The purpose of the Loan was to refinance a completed Balmain construction loan. The Borrower conducted the construction loan in a prompt and punctual manner.

This Loan is a Residual Stock facility whereby the Loan and LVR will reduce during the Loan Term from sales of the Security Properties. On completion of the sale of a Security Property, the Loan facility will be reduced by the agreed net sale proceeds and these funds will be returned to Investors.

The site is zoned ‘Comprehensive Development Zone (CDZ)’ under the Whittlesea Planning Scheme. The surrounding environment comprises of industrial facilities of varying size and age.

The Melbourne Wholesale Fruit and Vegetable Market is also situated in immediate proximity. The market is used by over 4,000 growers, wholesale, and retail businesses. To the west of the subject are the established industrial areas of Campbellfield and Somerton that predominantly comprise of properties with secondary industrial improvements.

The Security Property is in proximity to public transport with a bus interchange operating along Cooper Street, and the Epping Railway Station approximately 3.5km east via Cooper Street. The property is also located near numerous major roads including Cooper Street, O’Herns Road, and the Hume Freeway.

The Borrower Group is a Joint Venture represented by experienced property developers and builders, specialising in residential and commercial developments.

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 70%.
• 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.
• Interest for the Term of the Loan has been lodged on deposit with the Manager.
• The Loan Term is 9 months, subject to early or late repayment, from 20 October 2023 to 19 July 2024.

Investment Details

• Target Return

  9.2% net

• Loan to Value Ratio

  70%

• Term

  2 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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