Bangholme, VIC

Residential - future development site

The Loan is secured by first registered mortgage over 'Green Wedge' zoned land which forms a future residential development site located in Bangholme, VIC, approximately 33km south east of the Melbourne CBD.

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

The Borrower intends to apply for rezoning of the land from 'Green Wedge' to allow for residential development. The surrounding areas and adjacent suburbs are well established residential areas, and it is envisaged that a similar type of zoning could be adopted for the subject in the medium to long term.

The Security Property is conveniently near numerous retail amenities and public transport.

The Borrower is a SPV established to acquire the Security Property. The Sponsors are experienced property developers with substantial combined assets who have completed several residential and commercial developments across Melbourne.

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 60%.
• 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 initial 12 months of the Loan Term has been lodged on deposit with the Manager.
• The Loan Term is 24 months, subject to early or late repayment, from 9 February 2024 to 8 February 2026.

Investment Details

• Target Return

  9.2% net

• Loan to Value Ratio

  60%

• Term

  20 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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