Richmond, VIC

A newly completed 8 level commercial office building

The Loan is secured by first registered mortgage over a newly completed 8 level office building located in the popular commercial precinct of Richmond, VIC, approximately 4km south east of the Melbourne CBD, within the City of Yarra Local Government Area (LGA).

The purpose of the Loan was to assist with the refinance of the construction loan utilised to complete the development.

The Security Property presents as a newly constructed 8 level office complex which has been fitted out to a good standard.

The building contains three (3) levels of basement carparking that facilitate 95 car parks, 111 bicycle racks and 11 motorbike spaces. The ground floor provides end of trip facilities, parking, a retail space and the seven (7) commercial levels are open plan office space completed to a ‘cool shell’ from 731m² to 780m² in size.

The site is zoned ‘Commercial 1 Zone (C1Z)’ under the Yarra City Council Planning Scheme. 

The Borrower has substantial experience in both residential and commercial property investment and development. They have a significant property portfolio which comprises retail and industrial properties.

The Borrower Group is well known to the Manager who has provided multiple loans to the Group.

• The Loan was advanced at a Loan to Value Ratio of 55%
• The Target Return is 9.05% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by multiple joint and several guarantees 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 Guarantors 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 11 January 2024 to 10 July 2025.

Investment Details

• Target Return

  9.05% net

• Loan to Value Ratio

  55%

• Term

  14 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.