CPF Property Debt Fund

Paddington (Qld) 2024 (Second Mortage)

About Paddington (Qld) 2024 (Second Mortgage)

18.00%

Per Annum Paid Quarterly

Second Mortgage

Security

LVR

72.00%

April 2025

Expected Repayment

Loan Summary

Application Forms and Fund Docs

Why Invest

Loan Summary

 

LOAN SUMMARY – Paddington (Qld) 2024 (Second Mortage)

Loan Facility

2nd Mortgage $2,000,00
1st Mortgage $23,824,000
The Trustee on behalf of CPF Property Debt Fund will hold both the first and second mortgage over the Subject Properties.


Loan Term

Expected Repayment April 2025


Investor Distribution Yield

18.00% p.a. – paid quarterly


Minimum Investment

$50,000
For each dollar placed in the 2nd Mortgage, investors will be required to place two dollars into the 1st Mortgage.
A separate Appendix A is available for the 1st Mortgage.


Loan Purpose

1. Refinance an existing debt facility; and
2.
Provide construction funds for the development of:
a) childcare facility; and
b) 2-storey underground commercial car park.
3. Provide a construction contingency buffer.


Loan to Valuation Ratio ‘LVR’

The loan to valuation ratio (LVR) is calculated to be less than 72% (exclusive of GST).


Co-investment

Yes – CPF has invested into this Loan


About the Property Security 

1. A registered second mortgage over the Subject Property (refer below) including income producing retail premises located in Given Terrace Paddington Brisbane.
2. A second ranking lien over the rental income generated by the Subject Property being provided as security.
3. Second ranking general security agreement over the Borrower.
4. Personal Guarantee and Indemnity provided by the directors of the Borrower.
5. A Tripartite deed between the Borrower, Lender and the building contractor.

Please note that investors in this second mortgage rank behind investors in the first mortgage i.e. the funds in the second mortgage cannot be paid back until the all the funds associated with the first mortgage component (including all principal, interest and any recovery costs) are fully repaid.

Please refer to the risk analysis section for further information relating to risks.


About the Borrower

The Borrower, P&MV Constructions have a strong influence and presence in Paddington having been in operation since the 1950s.

P&MV Constructions previously constructed a shopping centre in Paddington, which contained a function centre, night club and 15 shops


The Borrower(s)

P&MV Constructions Pty Ltd ABN 19 009 773 764 (the Borrower)


Application Forms & Fund Documents

To Register as a Wholesale Investor

Please download our Accountant’s Certificates and return to us via email.

Registry Forms

Click here to change the details relating to your account.

Why Invest?

The Subject Property is in a highly affluent and desirable inner-city location that is expected to enjoy increased demand and amenity upgrades. Being on the outskirts of the Brisbane CBD, Paddington is in the heart of Brisbane and offers a unique suburban lifestyle featuring tree-lined avenues, attractive heritage buildings, as well as a vibrant café and shopping culture.

The loan is secured via a second mortgage over high quality property including income producing property.

There is an agreement to lease for 20 years over the proposed childcare centre which reduces risk for this project and improves the repayment strategy.

Paddington is near Suncorp Stadium which has recently enjoyed a significant upgrade. Paddington may also enjoy overflow benefits from the 2032 Olympics as it is mooted that Suncorp Stadium may host a large portion of the track and field events

There is a shortage of both childcare facilities and commercial car parking facilities within Paddington, and it is expected that both facilities will enjoy robust trading conditions.

Additional Security is also provided via a General Security Agreement over the Borrower, a Personal Guarantee & a tripartite agreement with the building contractor.

The loan will distribute quarterly income to investors at 18.00% p.a. (net of all fees and expenses).

Current Offers

Open for Investment

Paddington (Qld) 2024 (First Mortgage)

Return: 10.00% pa - paid quarterly
LVR: 65.00%
Expected Repayment Date: April 2025
Type: Child Care Centre

Closed for Investment

Paddington (Qld) 2024 (Second Mortgage)

Return: 18.00% pa - paid quarterly
LVR: 72.00%
Expected Repayment Date: April 2025
Type: Child Care Centre

Closed for Investment

Yallambi Construction 10% Units Bunya QLD

Return: 10.00% pa - paid quarterly
LVR: 59.46%
Expected Repayment Date: Mar 2024
Type: Residential land subdivision

Closed for Investment

Ridgeside Caboolture 2023

Return: 10.00% pa - paid quarterly
LVR: 69.00%
Expected Repayment Date: July 2024
Type: Residential land subdivision

Closed for Invesment

Yallambi QLD Residual

Return: 10.00% p.a - paid quarterly
LVR: 62.00%
Expected Repayment Date: Nov 2024
Type: Residual Stock Loan

Closed for Investment

Spring Creek East 2024

Return: 9.00% p.a - paid quarterly
LVR: 52.64%
Expected Repayment Date: Feb 2025
Type: Residential land subdivision

Eunoia First Mortgage

Closed For Investment

Return: 10.5% pa - paid quarterly
LVR: 60.00%
Expected Repayment Date: Dec 2024
Type: Residential land subdivision

Closed For Investment

Samford Rise Construction 10.25% Units

Return: 10.25% pa - paid quarterly
LVR: 62.6%
Expected Repayment Date: May 2024
Type: Residential land subdivision

Tallowwood Maleny

Closed For Investment

Return: 9.00% p.a - paid quarterly
LVR: 26.00%
Expected Repayment Date: Oct 2024
Type: Residential land subdivision

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