Kilmore, VIC

Rural land designated for future residential development in Kilmore Structure Plan

The Loan is secured by first registered mortgage over 20.89ha of rural land with future residential development potential in Kilmore, VIC, approximately 60km north of the Melbourne CBD.

The Security Property is currently in a 'Farming' zone, however, is included within the Kilmore Structure Plan and is identified for future residential development.

The Kilmore Structure Plan was gazetted in March 2019 and is awaiting final approval from the Minister of Planning to enable the rezoning to 'Neighbourhood Residential Zone (NRZ)'.

The purpose of the Loan was to refinance existing debt and provide an equity release to the Borrower for working capital purposes.

The Borrower is an experienced property investor and business professional, with substantial land holdings in regional Victoria.

• The Loan was advanced at a Loan to Value Ratio of 60%.
• The Target Return is 8.35% p.a., net of fees and expenses, and is paid to Investors monthly in arrears.
• The Loan is supported by an individual guarantee and a General Security Agreement over the Borrower.
• The Manager has assessed the financial position of the Borrower and Guarantor and is satisfied that they are financially capable to service a loan of this nature.
• The Loan Term is 24 months, subject to early or late repayment, from 8 May 2025 to 7 May 2028.

Investment Details

• Target Return

  8.35% net

• Loan to Value Ratio

  60%

• Term

  24 Months

• Minimum Initial Investment

  $10,000

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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