Lilydale, VIC

Residential development site

The Loan is secured by first registered mortgage over a 963m² proposed residential development site located in Lilydale, VIC, approximately 37km east of the Melbourne CBD.

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

The site is zoned ‘Residential Growth Zone (RGZ1)’ under the Yarra Ranges Shire Council Planning Scheme. The surrounding environment generally comprises a mix of low to medium density housing of various ages and states of repair.

The Borrower has lodged development plans proposing the development of nine (9) townhouses to be constructed over three (3) levels.

The Borrower Group have completed a number of successful townhouse development projects across Melbourne, own a successful garment wholesaling business and hold significant net property assets.

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 65%.
• 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 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 15 December 2023 to 14 June 2025.

Investment Details

• Target Return

  9.2% net

• Loan to Value Ratio

  65%

• Term

  13 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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