Melton East, VIC

Due diligence

The loan is a first mortgage loan, secured by two plots of land located in the Melton City Council. The total area of ​​land A is about 11.97 hectares, and the total area of ​​land B is about 12.00 hectares. This mortgaged property is currently undeveloped and will be used as a development site in the future, located in a residential area in the outer suburbs of Melbourne, and included in the proposed Melton East Precinct Structure Plan (PSP), which is currently in the pre-commencement stage.

The two mortgage properties are located in the northwest suburbs of Melbourne, about 35 kilometers northwest of Melbourne’s CBD. The railway facility in this area is Rockbank Railway Station, located approximately 4.5 kilometers southeast of the plot. Life in the area is convenient, the retail industry is developed, and there are many shopping malls nearby, all located within about 10 kilometers of the project, providing more convenient facilities for residents in the area. Rich in educational resources, there are many primary and secondary schools, all within 5-10 kilometers. The traffic flow is low, about 1.5 kilometers to the south, there is a direct access to the Western Expressway.

The borrower is an experienced investor who specializes in land investment. The borrower has a good business reputation and healthy asset status, strong financial resources, sufficient cash reserves and debt repayment ability.

Risk Assessment

Part of the subject site is identified within an investigation area as a water management site which is subject to further investigation upon commencement of the PSP. Some planning risk therefore exists in this regard, as part of the land may be acquired by Melbourne Water. Compensation would nevertheless be payable should any of the subject land be acquired.