Gillieston Heights and Morisset, NSW

Residual Stock Facility – 49 residential lots

This Loan is a Residual Stock facility whereby the Loan and LVR will reduce during the Loan Term from sales of the Security Properties. On completion of the sale of a Security Property, the Loan facility will be reduced by the agreed net sale proceeds and these funds will be returned to Investors.

The purpose of the Loan was to assist with purchase of lots. The Borrowers acquired the lots to on-sell as house and land packages.

Interest for the Term of the Loan has been lodged on deposit with the Manager.

The Borrower is the principal of a home builder business which operates in the Sydney & Central Coast/Newcastle regions that has successfully delivered over 400 homes over the course of their operation

• The Loan was advanced at a Loan to Value Ratio of 61%.
• The Target Return is 8.70% 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 was lodged on deposit with the Manager.
• The Loan Term is 12 months, subject to early or late repayment, from 1 February 2024 to 31 January 2025.

Investment Details

• Target Return

  8.7% net

• Loan to Value Ratio

  61%

• Term

  9 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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