Buninyong, VIC

Rural residential lifestyle property

The Loan is secured by first registered mortgage over two (2) adjoining vacant rural/residential lifestyle allotments, situated in the regional town of Buninyong, VIC, approximately 13km south of central Ballarat and 110km west of the Melbourne CBD.

One (1) of the allotments is currently a vacant parcel of land, and the other includes a 76m² recently constructed barrel shaped single bedroom dwelling, that is currently being utilised as a boutique tourist accommodation.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the Yendon Road No. 2 Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner.

Buninyong is a residential and rural lifestyle town which is a notable tourist destination and is known for being located at the foot of landmark Mt Buninyong, an extinct volcano, which is frequented by tourists.

The site is zoned ‘Rural Living (RLZ)' under the Ballarat Planning Scheme. 

The Borrower is looking to develop and hold boutique luxury tourist accommodation. The proposed accommodation will provide for a single sky barrel shaped cabin (already established and in operation) and additional villa residences.

The individuals behind the Borrower Group are existing Balmain clients, and comprise an established residential developer and a luxury accommodation operator. The Borrower Group’s previous development projects include luxury apartments in Brighton and Brunswick East, as well as rural land holdings in Daylesford and Ballarat with long term plans to develop boutique tourist accommodation on the sites

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 55%.
• The Target Return is 9.05% 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 30 October 2023 to 29 October 2024.

Investment Details

• Target Return

  9.05% net

• Loan to Value Ratio

  55%

• Term

  6 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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