Currumbin Waters, QLD and Toongabbie, NSW

A residential property comprising two (2) separate dwellings and a vacant residential lot

The Loan is secured by first registered mortgage over a 1,498m² residential allotment in Currumbin Waters, QLD, approximately 25km south of Surfers Paradise, and a 454m² vacant residential lot in Toongabbie, NSW, approximately 31km north west of the Sydney CBD.

The purpose of the Loan was to assist with the acquisition of the Currumbin Waters Security Property. The Toongabbie property was owned unencumbered at the time.

The Borrower is in the process of subdividing the Currumbin Waters property into two (2) allotments, so that the two (2) dwellings will each be on a separate lot. The Loan is anticipated to be repaid from the sale of one (1) of the Currumbin Waters Security Properties post subdivision approval. 

The Borrowers Group comprises an experienced developer and structural engineer and two (2) professional rugby league footballers. Together the sponsors have substantial experience in property investment and development, developing over 15 projects individually and jointly together.

• The Loan was advanced at a Loan to Value Ratio of 50%.
• 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 multiple joint and several personal and corporate 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 Loan Term is 6 months, subject to early or late repayment, from 10 January 2024 to 9 July 2024.

Investment Details

• Target Return

  9.7% net

• Loan to Value Ratio

  50%

• Term

  2 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.

Start now by investing in an individual loan to commence building your own first mortgage investment portfolio with Balmain Private.