Rutherford and Vacy, NSW

The borrower is offering two (2) properties as security which are summarised as follows:

Rutherford, NSW

The security property comprises two adjoining vacant development sites. The lots currently have a pending development application DA/2024/249 submitted on 28 March 2024 for ’22 lot Community Title Subdivision and Construction of 21 Dwelling Houses’.​ Vacant and irregularly shaped allotments.

• Development site 1 has a site area of 5,671sqm
• Development site 2 has a site area of 3,658sqm
• The property is Zoned R1 – General Residential
• The Local Authority is the City of Maitland.
• The proposed use is a residential development site and the purchaser has provided concept plans.
• The property is located circa 3km from Maitland, 38kw from Newcastle & 177km from the Sydney CBD Vacy, NSW

Vacy, NSW 

The second security property is a single-storey clad and metal-roof dwelling built in 2023.

Features include:

• Modern functional layout, modern condition internal and external
• 5-bedrooms, 3-bathrooms
• Double garage
• 4 x 22,000 water tanks
• Land area of 23,370 square metres
• Zoned R5 – Large Lot Residential
• Local Government Authority (LGA) is Dungog Shire Council
• The subject property is located circa 26km from Maitland, 59kw from Newcastle & 197km from the Sydney CBD

On behalf of the Fund, the Trustee will enter into the following documents relating to the Loan:

• A loan Agreement with the Borrower. First-ranking registered mortgage granted by the Borrower over properties located in Rutherford NSW and Vacy NSW.
• A general Security Agreement over the assets and undertaking of the Borrower.
• A personal and unlimited guarantee provided by the director of the Borrowing Company.