property type: Residential
Total Property Value: $1,900,000
Loan Amount: $1,330,000
Priority: 1st mortgage
Note Interest Rate: 6.29% p.a.
Term (Months): 12
Term Remaining (Months): 11
Use of Funds: Other
Why do we like this loan?
The sponsors have multiple long-standing businesses with proven incomes and substantial interests in Australian retail, branded businesses. The loan is secured by residential property in the Byron Bay area.
Primary Property Value: $1,900,000
A 621 square metre allotment, improved with a circa 1994 built single level detached dwelling of rendered brick walls and tile roof construction. Accommodation comprises 3 bedrooms plus study or 4th bedroom, 2 bathrooms and double garage. Ancillary improvements include driveway, landscaping, fencing and an in-ground pool. The dwelling has been renovated to a good standard.
First mortgage, for the purpose of business investment.