Adelaide, SA

A CBD development site

The Loan is secured by first registered mortgage over a 661m² CBD development site located on Elizabeth Street, Adelaide, SA, approximately 700m west of the Adelaide GPO.

The purpose of the Loan was to provide funds to the Borrower to complete another group project.

The site is zoned ‘Capital City’ within the City of Adelaide. The surrounding environment is predominantly residential, including multi-level townhouse and apartment developments, with Avani Adelaide Residences located directly south.

The majority of the site retains a concrete slab base and is informally used for car parking. The highest and best use for the site is as a mixed use predominately residential development.

The site benefits from close proximity to tertiary institutions such as the University of South Australia and TAFE SA, as well as the popular Central Market precinct which provides access to retail stores, restaurants, and services

The Borrower is a Special Purpose Vehicle (SPV) formed to acquire the Security Property. The Directors have substantial experience in property development and investment, having developed multiple properties internationally and across Australia in the last 20 years.

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 60%.
• The Target Return is 8.95% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by personal guarantee 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 12 months, subject to early or late repayment, from 16 January 2024 to 15 January 2025.

Investment Details

• Target Return

  8.95% net

• Loan to Value Ratio

  60%

• Term

  8 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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