Post by eeyore on Nov 10, 2022 13:57:56 GMT
New 36-month commercial term loan for Hailsham C*** M*** U*** has been announced.
Total loan: £1,543,750 LTV: 49.4%
Tranche A: £1.54375M @ 7.1% gross (No cap)
The purpose of the loan is to raise capital for the allocation of funds amongst a family.
The security is in two parts:
- a two-storey petrol filling-station together with two flats on the upper floor and a detached bungalow.
- land adjoining the filling-station with a steel-framed industrial unit currently set-up as a workshop/warehouse.
The strategy is to hold both properties as long-term investments with new separate five-year leases on the filling-station (including the bungalow & flats) and for the industrial land. The exit strategy is expected to be a refinance of this loan either with Proplend or a high-street bank.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Thursday 10-Nov). Tranche A will be available for Self-Select, with no cap - funds for Self-Select lenders must be in their cash accounts by 17:30 on Tuesday 15-Nov.
Total loan: £1,543,750 LTV: 49.4%
Tranche A: £1.54375M @ 7.1% gross (No cap)
The purpose of the loan is to raise capital for the allocation of funds amongst a family.
The security is in two parts:
- a two-storey petrol filling-station together with two flats on the upper floor and a detached bungalow.
- land adjoining the filling-station with a steel-framed industrial unit currently set-up as a workshop/warehouse.
The strategy is to hold both properties as long-term investments with new separate five-year leases on the filling-station (including the bungalow & flats) and for the industrial land. The exit strategy is expected to be a refinance of this loan either with Proplend or a high-street bank.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Thursday 10-Nov). Tranche A will be available for Self-Select, with no cap - funds for Self-Select lenders must be in their cash accounts by 17:30 on Tuesday 15-Nov.
