Lindfield and Breakfast Point, NSW

A freestanding recently renovated residential house and a residential apartment

The Loan is secured by first registered mortgage over a recently renovated double storey freehold residence located in Lindfield, NSW approximately 10km north west of the Sydney CBD, and a 3 bedroom strata title apartment located in Breakfast Point, NSW approximately 16km west of the Sydney CBD.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts sub-trust known as the Highfield Road No. 3 Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner.  

The Borrower acquired the Lindfield house to perform renovations (now complete). The Borrower provided the Breakfast Point property as equity to complete the purchase and renovation.

The Borrower Group are experienced business owners with diversified interests in retail, manufacturing and mining and property investment. The Borrower Group has conducted a number of successful home renovations similar to that of the subject property.

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 56%.
• The Target Return is 9.20% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by unlimited 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 12 months, subject to early or late repayment, from 6 February 2024 to 5 February 2025.

Investment Details

• Target Return

  9.2% net

• Loan to Value Ratio

  56%

• 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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