Hawthorn, VIC
Residential Redevelopment Site
The Security Property comprises a residential investment property with future development potential in Hawthorn, VIC, approximately 7km east of the Melbourne CBD.
The Security Property has a land area of 927m2 and is currently improved with a single level brick dwelling, with three (3) bedrooms and two (2) bathrooms.
The purpose of the Loan was to assist with the acquisition of the Security Property.
The Security Property is conveniently located near numerous retail amenities, public transport and educational institutions.
The Borrower Group are experienced property developers and investors who are well known to the Manager.
- The Loan was advanced at a Loan to Value Ratio of 69%.
- The Target Return is 9.15% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by multiple joint and several personal guarantees and a General Security Agreement over the Borrower.
- Interest for the initial 2 months of the Loan Term has been lodged on deposit with the Manager.
- The Manager has assessed the financial position of the Borrower and Guarantors 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 6 months, subject to early or late repayment, from 16 April 2024 to 15 October 2024.
Investment Details
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Target Return
9.15% net -
Loan to Value Ratio
69% -
Term
4 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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