Maroubra, NSW

An ocean-front residential property.

The Loan is secured by first registered mortgage over an ocean-front residential property located in Maroubra, NSW.

The purpose of the Loan was to assist with the partial refinance of a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as Liguria Street No. 2 Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner and in accordance with loan documentation. The Manager has undertaken a new credit underwrite and advanced a new Loan that is now the Malabar Road Sub-Trust. Investors in the Liguria Street No. 2 Sub-Trust have been fully repaid.

The property comprises 582m² of ocean front land improved with a recently renovated split-level, brick and terracotta tile residence, comprising three (3) bedrooms, three (3) bathrooms, and a single lock-up garage.

The property has unrestricted south eastern ocean views and is situated in a quiet residential street. It also benefits from a fire pit and swimming pool.

The Sole Director of the Borrower has over 10 years' experience operating a successful real estate agency in Sydney’s Eastern Suburbs, in addition to operating an established development company that specialises in medium and high-density apartment projects.

The Borrower is well known to the Manager and previous loans have been conducted in a prompt and punctual manner.

• The Loan was advanced at a Loan to Value Ratio of 33%.
• The Target Return is 8.30% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by an unlimited Director's guarantee, 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 24 months, subject to early or late repayment, from 9 November 2023 to 8 November 2025.

Investment Details

• Target Return

  8.3% net

• Loan to Value Ratio

  33%

• Term

  18 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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