Leppington, NSW

6.858ha DA approved residential development site

The Loan is secured by first registered mortgage over two (2) adjoining allotments combined to form a 6.858ha residential development site located in the Western Sydney Priority Growth Area in Leppington, NSW, approximately 49km south west of the Sydney CBD.

The proposed development specific to the Security Property is approved to yield 87 residential lots, a childcare facility lot, three (3) boundary line lot swaps, 7,639m² of 'SP2' zoned land and 2,581m² of 'RE1' zoned land.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the Woolgen Park Road Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner.

The Leppington area is being rapidly redeveloped into low and medium density residential housing as part of the Austral & Leppington North Precinct in the Western Sydney Priority Growth Area.

The Borrower Group is a substantial and successful residential land developer with over 25 years’ experience in land subdivisions in the western suburbs of Sydney. The Group has completed multiple residential subdivisions in and around Leppington and Austral, NSW.

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 59%.
• 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 a personal guarantee and a General Security Agreement over the Borrower.
• Interest for the initial 6 months of the Loan Term has been lodged on deposit with the Manager.
• The Loan Term is 12 months, subject to early or late repayment, from 19 January 2024 to 18 January 2025.

Investment Details

• Target Return

  9.95% net

• Loan to Value Ratio

  59%

• 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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