Title

Orange

Benchmark provided the loan for the purpose of refinancing existing debt and funding the construction of house and land packages at the residential subdivision project. During the loan term, the Borrower plans to construct houses and a duplex on the registered lots.

At a glance

Address

267-293 Ploughmans Lane, Orange, NSW 2800

Property Description

22 lot residential subdivision and construction of new homes.

Security

Registered first mortgage over the Security Property

General Security Agreement over the Borrower

Personal Guarantees from the Directors of the Borrower

Total Loan Facility

$10,314,000

LVR

70% at commencement

Effective LVR to Investor

55% at commencement

Target Return

10.5% p.a.

Exit

Settlement of completed house and land packages and/or refinance

Term

18 months

Current Investments

Following are a sample of current commercial loan investments. All loans are credit approved using Balmain’s extensive credit skills and processes. All returns shown are target returns and net of fees.

South-West Rocks

Multi-Dwelling

Valuation

$16.2m

LVR

46.1%

Actual IIR

10.5% p.a.

Exit

Funds repaid in full February 2024

Burpengary

Residential subdivision

Valuation

$5,695,455

LVR

70% at commencement

Actual IIR

9% p.a.

Exit

Settlement of completed lots and/or refinance