06 8月 Bangor NSW
注册地址：******* Bangor NSW 2234
标的资产地址：****** Bangor NSW 2234
利息：常规利率: 12% 每年
违约利率: 18% 每年
Borrowing entity: **********Pty Ltd
Registered address: ******* Bangor NSW 2234
Guarantor: R*****, T****
Facility type: First mortgage
Security properties: ****** Bangor NSW 2234
Valuation: $2,130,000 (Exclusive of GST)
LVR: Maximum 65.7% LVR of the valuation
Loan amount: $1,400,000 (Based on Current Valuations)
Purpose: Settlement of securitised property which will be used for future development purposes
Loan term: 24 months
Interest: Normal Rate: 12% Higher Rate: 18%
The proposed plan for the property will be to utilise it for future development to construct townhouses.
虽然正在考虑向Sutherland郡政府提交一份开发申请，以提供一个5五批细分，但目前尚未获得开发批准。建议在700 m²至1000 m²之间举行私人道路下社区协会。
Bangor位于新南威尔士州Sutherland Shire郡政府区。Bangor拥有5620名居民，平均房价为1,147,823澳元，单元式住宅的平均价位为839,700澳元。 Bangor的房价在过去3年里增长了12.32％。其单元式住宅价格在过去3年中增长了13.30％。
该地产靠近多所学校，如Aquinas Catholic College, Holy Family Primary School, Inaburra School等，使其成为一个更加以家庭为中心的地区，拥有更多的专业职业人士。 居住率达91.3％。
|该资产的位置在greater Sydney，它是greater Sydney的一个发展中地区|
The property is vacant land and has a consolidated area of about 6,000 m2 which at the moment consists of rugged bushland. There is existing residential development surrounding the area and the Bangor bypass close by.
No development approval is currently in place although a development application with Sutherland Shire Council is currently under consideration to provide a five-lot subdivision. The proposed lots vary between 700 m² and 1,000 m² with a private roadway to be held under community association.
The land is zoned R2 (low density residential) and the proposed subdivision conform with the requirements of council.
The development will provide electricity, water, sewer, gas, telephone, kerbing, guttering & sealed road to the site.
We believe 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.
Project Risk Location
Bangor is a suburb located in the Sutherland Shire Council local government in New South Wales. Bangor has a population of 5620 residents, where the median price for houses is $1,147,823 and the median price for units is $839,700. House prices in Bangor have grown by 12.32% in the past 3 years. Unit prices in Bangor have grown by 13.30% in the past 3 years.
Bangor is in the TOP 40% of suburbs in Australia with an average of days on market 54.25 for properties listed there.
The property is within close vicinity to multiple schools such as Aquinas Catholic College, Holy Family Primary School, Inaburra School and more making it a more family focused area with more people in a professional occupation. 91.3% of homes were owner occupied.
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 an experienced real estate agent who has engaged in property management prior. He has his own real estate firm and has pooled to get multiple silent shareholders to purchase this property for development purposes. Though this is his first development project which he is running he has well experienced in the property industry. We believe that this has assisted in his choice of purchasing the subject property as well as. The borrower will be acting as guarantor and has investment properties as well as a company providing healthy cashflow and so 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 are believe that this is an appropriate exit strategy.
|Sponsor risk has been placed as low due to him being an Australian citizen with multiple properties in Australia.|
|Serviceability Risk has also been placed as low due to local income derived from healthy personal business. Local income derived from personal business. The income is able to afford the interest which has been shown by bank statements.|
|Location of the property is within greater Sydney. It is a developing area within Greater Sydney|
|The gearing is under 70% which is below our maximum LVR however 60% would be preferable. Gearing is within our parameters as presented within our IM at 65.7% where maximum that we will accept is 70%|
|Exit Risk: Sale of the security property or loan facilities to be refinanced|
|Ranking Risk: First mortgage for settlement
Average: With a low LVR there is little risk we see with this project considering the experience of the borrowers in this industry.
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