South Melbourne, VIC

Two (2) adjoining residential terrace properties

The Loan is secured by first registered mortgage over two (2) adjoining residential properties with a Planning Permit for the construction of a 4 storey building, comprising four (4) whole floor apartments. The properties are located in the established inner-city suburb of South Melbourne, VIC, approximately 1.5km south of the Melbourne CBD and Port Melbourne Beach.

The subject is zoned ‘Capital City Zone (CCZ1)' occupying a combined land area of 235m². The surrounding environment comprises of mixed-use properties of varying age and quality.

The subject is improved by two (2) adjoining residential cottages with 2 bedroom accommodation, bathrooms and rear private courtyards.

The Sponsors are established builders who have completed multiple projects previously. It is intended that the Loan will be repaid by construction finance to develop the four (4) apartments.

The Borrower Group is well known to the Manager.  All facilities provided to the group have been conducted in a prompt and punctual manner 

• The Loan was advanced at a Loan to Value Ratio of 65%.
• 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 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 Manager has assessed the financial position of the Borrower and Guarantors 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 28 November 2023 to 27 November 2024.

Investment Details

• Target Return

  9.2% net

• Loan to Value Ratio

  65%

• 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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