02 8月 Ashwood VIC
注册地址：*** South Melbourne VIC 3205
标的资产地址：****** Ashwood VIC 3670
利息：常规利率: 11.5% 每年（在没有违约的情况下）
违约利率: 17.5% 每年（如果发生任何违约的情况下）
Borrowing entity: **********Pty Ltd
Registered address: *** South Melbourne VIC 3205
Guarantor: S***** M**
Facility type: First mortgage
Security properties: ****** Ashwood VIC 3670
Valuation: $1,750,000 (Exclusive of GST)
LVR: Maximum 60% LVR of the valuation
Loan amount: $1,050,000 (Based on Current Valuations)
Purpose: Redevelopment of vacant land
Loan term: 12 months
Interest: Normal Rate: 11.5% Higher Rate: 17.5%
其所在地交通便利，High Street Road作为贯穿东西的主干道，西接Huntingdale Road，东连Huntingdale Road。附近的道路都是铺好的沥青路且设有有混凝土人行道，同时配备了完善的街道排水系统。
Project Risk Location
Ashwood is a seller’s market, due to the high demand for houses in Ashwood, homeowners are likely to sell their house quickly. The total area of the subject property to be consolidated is 468 square meters, and the total development area is 540 square meters.
It is located in a place with convenient transportation, High Street Road as the main road connecting Huntingdale Road. The nearby roads are paved asphalt roads with concrete walkways and a well-equipped street drainage system.
ZANK&CO believes that due to the location of the property in an already mature residential area and with access to the bypass it presents an attractive property site. It is appropriately zoned for residential development which is essential in our consideration.
The Ashwood area is located in Victoria, the median price for houses is $1,092,500, the median price for units is $845,000. In the past five years, the average price of houses and units in the Ashwood area rose by 6.7% and 5.9% respectively.
Ashwood is in the top 40 % of Australian suburbs in terms of the number of days sold, with an average of one house sold per month.
There are also a number of shopping centres in the area, including Chadstone Shopping Centre, which is Australia’s largest shopping centre, is located about 3.5 kilometers to the southwest. There are Ashwood College and a number of public and private schools, including PLCs in the area.
To regulate the risk besides controlling the leverage we also look at the background of the borrower as well as their proposed exit strategy in the case of default.
Firstly, the borrower is a successful businessman who has an experienced partner to manage his development projects in the Victorian market. And he has multiple investment properties and a functioning company that provides him with a stable return on capital. Therefore, we do not believe there will be a serviceability issue.
Secondly looking at the exit strategy, the property will be sold or loan facility to be refinanced. Due to the low LVR we believe that this is an appropriate exit strategy.
|Project Management Risk: The borrower has not yet started development but however is at the pre-construction phase. After a review of feasibility and such the borrower will either sell the property with approved permit or commence development to which another loan will be sourced.|
|Gearing Risk: The maximum LVR is set at 60% of the subject property valuation within the acceptable parameters of ZANK&CO|
|Location Risk: It is considered to be a suitable development area in Melbourne|
|Credit Risk: The borrower has strong financials in both serviceability and assets|
|Vacant Land and Non-Income Earning Properties: All of the borrows investment properties are income producing|
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