Pimpama, QLD

DA approved childcare site and residential subdivision site

The Loan is secured by a first registered mortgage over a DA approved childcare development site and residential subdivision project located in Pimpama, QLD, approximately 50km south of the Brisbane CBD.

The Security Property is located within the Brisbane/Gold Coast growth corridor. The site is in close proximity to existing residential estates.

The purpose of the Loan was to assist with the refinance of a previous Balmain construction loan. The Borrower has decided not to commence construction and has decided to sell the site.

The site is zoned ‘Medium Density Residential’ under the Gold Coast City Plan. Development approval was granted in August 2017 for a Development Permit for a Combined Reconfiguration of a Lot for 1 into 17 Lots and Material Change of Use for Child Care Centre. A Minor Change approval was more recently granted in October 2021. The approval has a currency period until 24 February 2024 however can be extended with further application.

The Borrower is an entity associated with an established Queensland based property development and investment group. They currently own and operate 12 childcare centres in south east Queensland. The Directors have substantial experience in commercial property investment and development.

The Borrower Group is well known to the Manager who has provided a number of loans over the past 20 years. All previous loans have been conducted in a prompt and punctual manner.

• The Loan was advanced at a Loan to Value Ratio of 44%.
• 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 joint and several guarantees and a General Security Agreement over the Borrower.
• Interest for the Loan Term has been lodged on deposit with the Manager.
• The Loan Term is 6 months, subject to early or late repayment, from 12 December 2023 to 11 June 2024.

Investment Details

• Target Return

  9.95% net

• Loan to Value Ratio

  44%

• Term

  1 Month

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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