Fully Invested

Benobble, QLD

15 vacant rural residential lots comprising 13 recently completed subdivided lots and two (2) larger balance lots in Benobble, QLD.

The Loan is secured by first registered mortgage over 15 vacant rural residential lots comprising 13 recently completed subdivided lots and two (2) larger balance 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 lot, the Loan facility will be reduced by the agreed net sale proceeds and these funds will be returned to Investors.

The Security Property comprises 15 lots within a 56-lot rural residential estate in Benobble, QLD known as ‘Benobble Heights’. The properties are approximately 33km west of the Gold Coast CBD. Surrounding development comprises acreage properties, with undeveloped rural land holdings to the west.
Of the 15 lots, 13 are recently completed vacant residential lots ranging in size from 6,522m2 to 11,711m2. The lots provide adequate building envelope provisions between 2,500m2 and 4,000m2 which is common on most rural residential subdivisions. The two (2) balance lots are 90.52ha and 100ha, which both require benching and retaining to reach level building platforms.

The Loan is anticipated to be repaid from the sale of the 13 recently completed lots.

The Borrower Group are established property investors and developers. The Directors have substantial experience in property having previously operated multiple real estate offices throughout Victoria.

  • The Loan was advanced at a Loan to Value Ratio of 55%.
  • The Target Return is 9.45% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
  • The Loan is supported personal and corporate 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 12 January 2024 to 11 January 2025.

Investment Details

  • Target Return
    9.45% net
  • Loan to Value Ratio
    50%
  • Term
    6 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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