Austral, NSW

DA approved residential subdivision site

The Loan is secured by first registered mortgage over five (5) adjoining residential properties that combine to form an 11.306ha residential development site, located in the Western Sydney Priority Growth Area of Austral, NSW, approximately 51km south west of the Sydney CBD and approximately 14 km west of Liverpool.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the Kelly Street Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner and in accordance with loan documentation.

The Security Properties are located within the Austral and Leppington North Precinct of the Western Sydney Priority Growth Area and are zoned ‘R2 Low Density Residential’, ‘C2 Environmental Conservation’ and ‘C4 Environmental Living’ under the State Environmental Planning Policy 2021.

The Austral area is being rapidly redeveloped into low and medium density residential housing as part of the Austral & Leppington North Precinct in the Western Sydney Priority Growth Area.

The Security Property was granted Development Application (DA) approval by Liverpool City Council. The development consent allows for the development of the Security over two (2) stages into 139 lots, with a residual land parcel which is expected to yield a further seven (7) lots.

The Borrower Group is a substantial and successful residential land developer with over 25 years’ experience in land subdivisions in the western suburbs of Sydney. The Group has completed multiple residential subdivisions in and around Leppington and Austral, NSW.

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 60%.
• The Target Return is 9.95% 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 initial 6 months of the Loan Term has been lodged on deposit with the Manager.
• The Manager has assessed the financial position of the Borrower and Guarantor as part of its credit approval process and is satisfied that they are financially capable to service a loan of this nature.
• The Loan Term is 12 months, subject to early or late repayment, from 5 December 2023 to 4 December 2024.

Investment Details

• Target Return

  9.95% net

• Loan to Value Ratio

  60%

• Term

  7 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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