Kuluin, QLD
Two (2) recently subdivided residential lots
The Loan is secured by first registered mortgage over two (2) recently subdivided residential lots located in Kuluin, QLD, approximately 4km west of the Maroochydore business centre.
This Loan is a Residual Stock Facility whereby the Loan and LVR are expected to reduce during the Loan Term from sales of the Security Properties. On completion of the sale of a Security Property, the Loan facility will be reduced by the agreed net sale proceeds and these funds will be returned to the Investors.
The purpose of the Loan was to refinance a previous construction loan.
The two (2) Security lots form part of a 5-lot subdivision project where three (3) of the five (5) lots have already sold and settled. The lots are zoned ‘Low Density Residential’ under the Sunshine Coast Planning Scheme 2014 and one (1) of the two (2) lots benefits from development approval for a dual occupancy development.
The surrounding environment comprises business, retail, residential, and a small industrial precinct to the north.
The Borrower is a SPV directed by an experienced project manager specialising in small scale residential subdivisions.
- The Loan was advanced at a Loan to Value Ratio of 65%.
- The Target Return is 8.45% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
- The Loan is supported by a personal guarantee and a General Security Agreement over the Borrower.
- Interest for the Loan Term has been lodged on deposit with the Manager.
- The Loan Term is 9 months, subject to early or late repayment, from 26 June 2025 to 25 March 2026.
Investment Details
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Target Return
8.45% 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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