Googong, NSW

A residential development site with DA pending

The Loan is secured by first registered mortgage over an 8,659m² residential development site located in Googong, NSW, approximately 10km south of the Queanbeyan CBD and 16km from Parliament House in Canberra.

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the Glenrock Drive Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner and in accordance with loan documentation.

A Development Application (DA) has been lodged for 42 double storey townhouses comprising a variety of 2, 3, 4, and 5 bedroom configurations spread across four (4) separate buildings.

Googong is a rapidly developing township transforming former grazing land into five (5) connected neighbourhoods with extensive amenities, schools, and retail centres, set to support around 16,000 residents.

The Borrower is a Joint Venture between an experienced property developer who has completed significant housing developments across the ACT and NSW, and an experienced builder who has delivered several high-quality residential projects over the past 10 years.

The Borrower Group is well known to the Manager and previous loans 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 8.70% 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 and related corporate entities.
• Interest for the initial 11 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 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 4 July 2025 to 3 July 2026.

Investment Details

• Target Return

  8.7% net

• Loan to Value Ratio

  65%

• Term

  12 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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