Rockbank, VIC

A future childcare and residential development site

The Loan is secured by first registered mortgage over a 6,024m² mixed use development site located in Rockbank, VIC, approximately 34km north west of the Melbourne CBD, within the City of Melton Local Government Area.

The purpose of the Loan was to assist with the acquisition of the Security Property.

The Security Property forms part of the approved Rockbank Precinct Structure Plan (PSP), that is intended to support a residential community of approximately 22,000 people in approximately 7,932 dwellings.

The site is zoned ‘Urban Growth’ under the Melton Planning Scheme. The surrounding environment comprises of residential dwellings that are developed or undergoing construction to the south, east and west. Moreover, land to the north and east is earmarked for the future Rockbank major town centre, with an indoor recreation centre proposed immediately to the north.

The Borrower lodged a Planning Permit application for the construction of a childcare centre upon 2,970m² of the land, and intends to develop the 3,054m² portion of remaining land into a mixed use, medium density, residential development.

The Borrowing Group are experienced property investors and developers and have completed similar projects in the area.

• The Loan was advanced at a Loan to Value Ratio of 60%.
• The Target Return is 9.70% 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 full Term of the Loan was lodged on deposit with the Manager.
• The Loan Term is 12 months, subject to early or late repayment, from 10 November 2023 to 9 November 2024.

Investment Details

• Target Return

  9.7% net

• Loan to Value Ratio

  60%

• 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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