Fully Invested

Thornhill Park, VIC

Permit Approved development site

The Loan is secured by first registered mortgage over a Permit Approved residential development site located in the western Melbourne suburb of Thornhill Park, VIC.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the Greigs Road No. 4 Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner.

Thornhill Park is located in one of Melbourne’s key residential growth corridors and is seeing significant large-scale estate development.

The secured property is a 12.04ha site with Development Application (DA) and masterplan approval for the subdivision of 128 residential lots, a non-government school site (1.46ha) and two (2) conservation reserves.

A significant proportion of the residential lots and the school site have been pre-sold.

The Borrower Group are experienced property investors and developers based in Melbourne. The Borrower Group generates substantial income through its real estate holdings as well as holding substantial net 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 58%.
  • 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 joint and several 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 16 May 2024 to 15 May 2025.

Investment Details

  • Target Return
    9.2% net
  • Loan to Value Ratio
    58%
  • Term
    10 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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