Beveridge, VIC

Englobo Urban Growth Zone residential land

The Loan is secured by a first registered mortgage over a 40.47ha future residential development site located in Beveridge, VIC, approximately 40km north of the Melbourne CBD.

The purpose of the Loan was to assist with the acquisition of the Security Property.

The site is zoned ‘Urban Growth Zone’ (23.82ha), 'Rural Conservation Zone' (6.71ha) and ‘Urban Floodway Zone’ (9.94ha). It is within the Western Growth Corridor Plan and the proposed Beveridge North West Precinct Structure Plan (PSP), which is in the final stages of the approval process.

The Security Property is surrounded by large residential lifestyle properties and rural land. Developed residential estates are located 1.2km south of the subject and the Hume Freeway is 3km to the west.

Based on the Western Growth Corridor Plan and PSP, the subject is earmarked for conventional residential development of the 'Urban Growth' zoned developable land area of circa 23.82ha..

The Borrower is a Special Purpose Vehicle (SPV) established to acquire the Security Property. The Directors are experienced land investors with a history of successful transactions of englobo sites, and the Sponsors are experienced property developers who have invested in several residential developments.

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 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 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 18 months, subject to early or late repayment, from 30 January 2024 to 29 July 2025.

Investment Details

• Target Return

  9.7% net

• Loan to Value Ratio

  50%

• Term

  15 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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