Fully Invested

Glen Iris, VIC

Four (4) Retail Units - Residual Stock Loan

The Loan is secured by first registered mortgage over four (4) strata title retail lots located on the ground floor of a recently completed residential complex in Glen Iris, VIC, approximately 10km south east of the Melbourne CBD. 

The development has only recently been completed. The upper levels comprise 118 residential apartments which do not form security for this Loan.

Leasing demand has been strong, with three (3) out of the four (4) lots leased or under Heads of Agreement on 5 to 7 year terms, each with 5 to 7 year options.

The subject property is conveniently located directly opposite the Gardiner Train Station. The Borrower Group are experience property developers and investors based in Melbourne. They have completed more than 50 projects across a wide range of asset classes in Melbourne over the past 40 years.

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 68%.
  • The Target Return is 8.15% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
  • The Loan is supported by a Director’s guarantee and a General Security Agreement over the Borrower.
  • Interest for the initial 3 months of the Loan Term has been lodged on deposit with the Manager.
  • The Manager has assessed the financial position of the Borrower and Guarantor as part of its credit approval process and is satisfied that they are financially capable to service a loan of this nature.
  • The Loan Term is 12 months, subject to early or late repayment, from 19 March 2024 to 18 March 2025.

Investment Details

  • Target Return
    8.15% net
  • Loan to Value Ratio
    68%
  • Term
    8 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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