Fully Invested

Port Macquarie, NSW

Development site - Healthcare, Education and Medical

The Loan is secured by first registered mortgage over a future integrated medical and health site located in Port Macquarie, on the NSW mid-north coast.

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

The Security Properties consist of five (5) adjoining lots with a combined site area of 20,785m² and form part of Port Macquarie Health and Education Precinct Masterplan.

An extensive planning approval process in currently in progress which is expected to allow for the development of an integrated mixed-use medical development of the subject site(s), including mixed-use medical buildings, a medi-hotel hub and associated car parking.

The Property is located within the Port Macquarie Health Hub, which includes the Port Macquarie Base Hospital, Macquarie Specialist Centre, Westside Medical Centre and UNSW Rural Clinical School.

Improvements on the five (5) lots currently include an existing single level commercial building that is being utilised as a specialist medical consulting facility, and five (5) residential dwellings of different ages.

The Borrower Group are part of an established and substantial specialist finance group that are experienced property investors.

  • 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 a corporate guarantee from a related group entity and a General Security Agreement over the Borrower.
  • Interest is to be paid by the Borrower monthly in advance. 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 24 months, subject to early or late repayment, from 6 December 2023 to 5 December 2025.

Investment Details

  • Target Return
    9.7% net
  • Loan to Value Ratio
    60%
  • Term
    17 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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