Finished date 9/04/2021
The Loan is secured by the first registered mortgages over 24 lots of lands in Bowen, QLD 4805, with general security as well as corporate and personal guarantees.
All the Properties are Vacant Land. They are located 75km from Airlie Beach Town Centre, 500m from public transport and 650m from shops. The subject property is located within the residential precinct of the suburb. The Suburb for the Properties is the Whitsunday Regional residential suburb of Bowen. Surrounding development consists of established dwellings with varying levels of accommodation provided. Dwellings in the vicinity appear to be well-maintained.
Purpose of the loan: Provide working capital for business operations.
Interest payment: Monthly interest is payable each month in arrears.
Repayment of the loan: After 3 months, the borrower can repay the whole of the loan amount with 30 days written notice.
| Target return rate | 8% p.a. |
| Actual return rate | 8% p.a. |
| Commenced date | 3/04/2020 |
| Repaid date | 9/04/2021 |
| Original term | 12 months |
| Loan to Value Ratio | 51% |
