Open for Investment
Box Hill, VIC
The Loan is secured by a first registered mortgage over two (2) adjoining residential properties that comprise 1,486m2, within the established suburb of Box Hill, approximately 14km east of the Melbourne CBD.
The properties are zoned Residential Growth Zone (RGZ3), and are currently improved by two (2) older style residential dwellings. The combined site holds a Planning Permit for the demolition of existing structures and development of a 17 storey building to contain dwellings and ground floor food and drink premises. The purpose of the Loan was to acquire the Security Property.
The Security Property is well located in the Box Hill Medical Precinct, within the Box Hill Activity Centre, Precinct F, which encourages high density development. It is within 100m of Box Hill Hospital and Epworth Eastern, and the Box Hill Institute is located approximately 400m south west. The land benefits from frontage to Wellington Road, with additional laneway frontage to the south. It is within 300m of Box Hill Central Shopping Centre and transport interchange (train/bus/tram).
The Borrower Group is a highly experienced property development and investment group that specialises in the medium density and high density commercial and residential development space. They hold significant commercial real estate assets from which they generate substantial income that will be used to service the Loan.
The Borrower Group is well known to the Manager. All previous facilities have been conducted in a prompt and punctual manner.
Target Return (P.A. net)5.6%
Loan to Value Ratio68%
Term to Run (Mths)22 Mths
Minimum Initial Investment$10,000
All Current Investments.
All loans are credit approved before being offered to investors. All target returns are net of fees.
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