13 10月 Augustine Investment Option
Development of townhouses
Term: 12-18 mths
Loan Purpose: Land Finance + construction
Facility Type: First mortgage
Valuation: $9,460,000.00 as is valuation (at 4 February 2021), and Est. $15,000,000 of the End
Value excluding GST.
Loan to Value Ratio 70%
本贷款以 Glenroy 郊区的 Augustine Terrace 西侧开发用地的一级抵押贷款为担保。贷款的目的是土地和建筑工程融资。
项目开发用地是一块 不规则形状的住宅开发用地，面积为 18,262 平方米。该地块已获得规划许可证，可发展43套住宅（联排房屋），其中九套联排房屋实际上已完工。Glenroy 是北部住宅区，位于墨尔本市中心的西北方向，距离约12公里。
该地区的房产主要包括 1950 年代的砖砌和帆板住宅，其中许多是由政府住房委员会在 1900 年代中期建造。该地区在 1960 年代末和 1970 年代初经历了进一步的扩张，传统的砖砌住宅更为普遍。此外，该地区还有许多现代联排房屋风格的开发项目，用多个住宅取代了旧式住宅。该区生活交通便利，拥有位于Pascoe Vale Road 的购物中心，开往市区的火车服务线以及多所中小学，包括 Pascoe Vale Girls Secondary College 和 Box Forest Secondary College。
The Loan is secured by a first registered mortgage over a development site at the western side of Augustine Terrace within the suburb of Glenroy. The purpose of the Loan was for Land Finance and construction.
The subject development site is an irregular shaped 1.8262 hectare (18,262 square metre) residential
development site with Planning Permit No. MPS2005/0549 having been approved on the site. This Planning Permit relates to the development of forty-three (43) dwellings (townhouses) and was originally approved under the direction of VCAT in August 2006. An extension to the Permit was granted in June 2018 by Moreland City Council with development to be completed by August 2020.The subject property comprises two (2) parts being Lots 38 – 46 being nine (9) townhouses considered to be virtually complete; and the remaining land to comprise thirty-four (34) lots to ultimately be developed with similar townhouses.
Glenroy is a northern residential locality being approximately twelve (12) kilometres north-west of the Melbourne Central Activities District. Glenroy includes an extensive shopping precinct on Pascoe Vale Road, a city bound train service and a range of primary and secondary schools including Pascoe Vale
Girls Secondary College and Box Forest Secondary College. The large Westfield Airport West shopping centre provides more extensive shopping facilities.
This loan is currently under Default, and this project will be completed under receivership.
SELECT INVESTMENT OPPORTUNITY
14 % p.a. net
LOAN TO VALUE RATIO
Complete the form to obtain the Investment documents