06 8月 Leppington NSW
注册地址：******* Leppington NSW 2179
担保人：**** Z, **** M
标的资产地址：****** Leppington NSW 2179
利息：常规利率: 11% 每年
违约利率: 17.5% 每年
Borrowing entity: **********Pty Ltd
Registered address: ******* Leppington NSW 2179
Guarantor: **** Z, **** M
Facility type: First mortgage
Security properties: ****** Leppington NSW 2179
Valuation: $ 6,900,000 (inclusive of GST)
LVR: Maximum 52% LVR of the valuation
Loan amount: $ 3,000,000 (Based on Current Valuations)
Purpose: Settlement of securitised property which will be used for future development purposes
Loan term: 8 months
Interest: Normal Rate: 11% Higher Rate: 17.5%
The proposed plan for the property will be to utilise it for future development to construct townhouses.
该房产靠近多所学校，如Unity Grammar College，John Edmondson High School。
首先，借款人是商人，是该资产的创始人。虽然这是他的第一个开发项目，但是他的账户中有足够的现金储备，借款人的资产也非常丰富，他的财产几乎没有抵押贷款。所有这些都在会计师认证的A / L档案中得到证明。我们相信这也有助于他选择购买标的资产。
The property is located within the Camden Growth Centre (Leppington Precinct) in the South- West Growth Centre of Sydney as approved by the NSW government.
An application has been made to the Camden Council to subdivide the property into 48 residential lots with roads and drainage reserve.
The property comprises a site having an area of 2.5 hectares (25,000 m2) of land which is mostly zoned R2 (Low Density Residential) with 22,110 m2 available for development with the balance of 2,890 m2 zoned SP2 (Infrastructure Local Drainage) and is subject to occasional flooding and is to be excluded for any development.
Project Risk Location
Leppington has a population of 3,497 people and 24.67% of its occupants live in rental accommodation. The median house price in Leppington last year was $832,500.
The median rent in Leppington for houses is $560 per week and the median rental yield is 4.03%. Stock on the market for houses/townhouses has changed 1.96% compared to last year and the average time to sell a house/townhouse is 154 days.
The property is within close vicinity to multiple schools such as Unity Grammar College, John Edmondson High School.
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 business man and is the founder of this property. Though this is his first development project which He had enough cash reserve in his account and the borrower is also very asset rich with little by way of mortgages over his property. All this is evidenced in the A/L on file certified by an accountant. We believe that this has assisted in his choice of purchasing the subject property as well as.
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.
|Serviceability Risk: The borrower has enough money in the bank account to serve the interest|
|Location Risk: It is a developing potential area within Greater Sydney|
|Gearing Risk: Gearing is within our parameters as presented within our IM at 52% where maximum that we will accept is 70%|
|Loan Settlement Risk: The average days on market around Leppington area in Sydney is 50 days which shows enough turnaround time for the property to sell in the worst scenario.|
|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.
Serviceability Risk has been placed，the borrower has enough money in the bank account to serve the interest
Loan Settlement Risk has been placed, because the average days on market around Leppington area in Sydney is 50 days which shows enough turnaround time for the property to sell in the worst scenario.
The gearing is under 70% which is below our maximum LVR however 60% would be preferable.
We have rated this property a risk rating of 1.7 which is healthy.
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