CPF Property Debt Fund

Tallowwood Maleny

About Tallowwood Maleny

This fund is currently closed for investment but will be re-opening soon.

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9.00%

Per Annum Paid Quarterly

First Mortgage

Security

LVR

26.00%

October 2024

Expected Repayment

Tallowwood-Maleny-offer-CPF

Tallowwood Maleny is located in the Sunshine Coast Hinterland suburb of Maleny situated approximately 2.6 kilometres south of Maleny township, 39 kilometres Southwest of Maroochydore and 95 kilometres north of Brisbane. Surrounding the development comprises rural residential homes, larger rural holdings, dairy and cattle farms.

The overall proposed development is a multi-stage rural residential subdivision providing a total of 43 lots across four stages. Stage 1 comprises a total of 11 rural residential lots ranging in size from 4,500m2 to 5,650m2. The stage 1 development also includes a significant open space area, electrical substation upgrade and initial civil works.

Why Invest?

At less than 26%, CPF regard the Loan to Valuation ratio (LVR) to be low.

As at the date of this document, Net Sale Proceeds (after netting off GST and settlement costs) from pre-sales equate to greater than 85% coverage of the Total Loan Amount

Over the medium to long-term the South-East QLD residential market is forecast to benefit from robust population growth, a sizeable dwelling stock shortage and the 2032 Olympics and associated development infrastructure

The Borrower has engaged a Civil Engineer to assist with delivery of the Project. This engineer is regarded by the Lending team as highly competent and experienced in this type of  development.  Furthermore, funds advanced for construction costs will be based upon cost to complete confirmed by third party Quantity Surveyor engaged by CPF.

Additional Security is also provided via a first registered General Security Agreement over the Borrower, Personal Guarantees from Sponsors, a licence to use the intellectual property (i.e. drawings and plans) and a tripartite agreement with civil contractor.

The Borrower previously completed the successful development and sale of rural residential lots across seven stages on adjoining property.

The loan is secured via a first registered mortgage over the Subject Property.

As at the date of this Document there is a shortage of housing stock in South-East Queensland.

Land subdivision projects are generally considered lower risk in terms of input costs when compared to built-form development projects in the current market.

Loan Summary

 

LOAN SUMMARY – Tallowwood Maleny

Loan Facility

$3,985,000


Loan Term

(forecast Oct. 2024)


Investor Distribution Yield

9.00% p.a. – paid quarterly


Minimum Investment

$50,000


Security

  1. First Registered Mortgage over property located at 5-7 Candle Vine Street, Maleny, Qld, 4552.
  2. First Registered Security Agreement over the borrowing entity
  3. Personal Guarantee and Indemnity provided by Robert Mervyn Lee and Kyleigh Anne Lee (Sponsors)
  4. Tripartite Deed between the Borrower, Lender and Civil Contractor
  5. Assignment of the Licence to use Intellectual Property granted by the holder of the copyright to use all plans, drawings etc. for constrcuting and marketing the project
  6. Any other security interest or other document the Lender considers appropriate to secure its position.

 

Loan to Valuation Ratio ‘LVR’

The loan agreement allows for a minimum LVR of 26% exclusive of GST.


Co-investment

Yes – CPF has invested into this Loan


About the Borrower

The CPF lending team has had previous loan dealings with the Borrower.

The Borrower has completed the successful development and sale of rural residential losts on the first half of this property.


About the Property Security 

Security is provided via a registered first mortgage over the Subject Property being land located at 5-7 Candle Vine Street, Maleny, Qld, 4552 specifically:

  • Lot 102 on Survey Plan 187653 Title Reference No. 50609874
  • Lot 500 on Survey Plan 289968 Title Reference No. 51081512
  • The subject property is currently being marketed as Tallowwood Estate

Valuation

‘As if complete’ valuation of the Subject Property $15,463,636 exclusive of GST.

Application Forms & Fund Documents

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Registry Forms

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Current Offers

Capital Property Funds Tingalpa 2024 (First Mortgage)

Open for Investment

Tingalpa 1st Mortgage

Return: 10.50% pa - paid quarterly
LVR: 65.00%
Expected Repayment Date: July 2025
Type: Industrial Business Park

Capital Property Funds Tingalpa 2024 (First Mortgage)

Open for Investment

Tingalpa 2nd Mortgage

Return: 18.00% pa - paid quarterly
LVR: 75.00%
Expected Repayment Date: July 2025
Type: Industrial Business Park

Capital Property Funds Tingalpa 2024 (First Mortgage)
Paddington 10.25 Construction

Return: 10.25% pa - paid quarterly
LVR: 65.00%
Expected Repayment Date: April 2025
Type: Child Care Centre

Currently Closed

Currently Closed

Samford Rise 2024

Return: 10.25% pa - paid quarterly
LVR: 65.00%
Expected Repayment Date: June 2025
Type: Residential Land Subdivision

Open for Investment

Eunoia First Mortgage

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

Tallowwood Maleny

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

Currently Closed

Closed for Investment

Closed for Investment

Spring Creek Residual 2024

Return: 10.00% pa - paid quarterly
LVR: 62.00%
Expected Repayment Date: May 2025
Type: Residential Land Subdivision

Closed 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

Spring Creek East 2024

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

Closed for Investment

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

Ridgeside Caboolture 2023

Return: 10.00% pa - paid quarterly
LVR: 69.00%
Expected Repayment Date: July 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

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

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