Tarneit, VIC

A 2.03ha 'Urban Growth Zone' residential development site and a currently under construction significant luxury residential dwelling

The Loan is secured by first registered mortgage over two (2) future residential development sites located in Tarneit, VIC.

The properties are approximately 25km west of the Melbourne CBD.

The purpose of the Loan was to assist with the acquisition of one (1) of the Security Properties.

The sites are both zoned ‘Urban Growth’ under the Wyndham Planning Scheme and have been earmarked for residential development within the Tarneit North PSP.

The surrounding development comprises a combination of existing traditional rural residential stock, as well as 'Urban Growth' zoned land identified for future residential and commercial development including residentials estates.

The main retail precinct, the Tarneit Central Shopping Centre, is within 2km of the subject properties, offering comprehensive retail amenities including supermarkets, K-mart discount stores, cafes, restaurants, and a variety of retailers.

The Borrower is a successful business owner, greenfield property developer and investor who holds a substantial property portfolio. The property portfolio predominantly includes inner city and englobo land that was strategically acquired to sell after obtaining permit/rezoning or developing out.

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 58%.
• The Target Return is 9.35% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by an unlimited guarantee from the Director and a General Security Agreement over the Borrower.
• Interest for the initial 12 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 18 months, subject to early or late repayment, from 19 December 2023 to 18 June 2025.

Investment Details

• Target Return

  9.35% net

• Loan to Value Ratio

  58%

• Term

  13 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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