CPF Property Debt Fund

Spring Creek Land 2023

Security is provided via a registered first mortgage and directors guarantees.

The registered first mortgage is over lots 9002- 9009 located at 22a Telemon Road Beaudesert Qld and is currently being marketed as ‘Spring Creek’. The loan facility is further supported by directors guarantees including a high net worth individual. 

Spring Creek is located within the regional township of Beaudesert, 65 kilometres west of Surfers Paradise and 69 kilometres south of Brisbane.

INVESTMENT DETAILS

Return: 10.00% pa 
LVR: 48.6%
Term: 12 months

First Mortgage Security

Why Invest?

The directors of the borrowing entity have been known to the lending team for several years and CPF has successfully lent to the directors of he borrowing entity on previous occasions

The Borrower is regarded by the Lending team as highly experienced and competent.

Having funded the initial land acquisition and subsequent development & sale of stages 1, 2, 3 & 4 equating to approximately 120 land lots – CPF has an in depth knowledge and understanding of this project.

As at the date of this document there is a shortage of housing stock across South East Queensland.

Security is provided via a first mortgage over the Subject Property at an LVR that is less than 50%. Further security is also provided by director guarantees including a high net worth individual.

The average age of the purchaser of the land lots at Spring Creek is 61 years of age and are generally not subject to finance.

Spring Creek is evolving into a desirable housing estate within Beaudesert and has enjoyed consistent increases in the value of the completed residential lots.

CPF regard the LVR to be at the lower end for this type of project.

Loan Summary

 

LOAN SUMMARY – Spring Creek Land 2023

Loan Facility

$10,551,300


Fund Status

Open for Investment


Loan Term

Expected Repayment July 2024


Investor Distribution Yield

10.00% p.a. – paid quarterly


Minimum Investment

$50,000


Security

Registered first mortgage


Loan to Valuation Ratio ‘LVR’

The loan agreement allows for a minimum LVR of 48.6%

 

Co-investment

Yes – CPF has invested into this Loan


About the Property Security 

Security is provided via a registered first mortgage over the Subject Property being:

  • Security is provided via a registered first mortgage over lots 9002-9009 located at 22a Telemon Street Beaudesert Qld (Subject Property) and is currently being marketed as ‘Spring Creek’.
  • Further to the first mortgage over the Subject Property, the loan is supported by a first mortgage over Stages 3 & 4, which is a total of 81 near-completed residential land lots located within Spring Creek and are forecast to reach practical completion on or around July/ August 2023. This provides further security to the Englobo loan if required.
  • In our opinion ‘Spring Creek’ is the premier residential estate in the locality given its proximity to the Beaudesert retail and commercial precincts and its elevated position providing good district views.
  • The development of modern quality housing on land lots already sold within the estate and high quality landscaping has improved the overall profile of Spring Creek, resulting in consistent sales and price growth of completed land lots within the Estate.
  • Please note this loan does not include any construction funding. 

Valuation

As is’ valuation of the Subject Property $21,700,000 exclusive of GST.

The CPF Property Debt Fund – Spring Creek Land 2023

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