eeyore
Member of DD Central
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Post by eeyore on Oct 30, 2023 14:09:09 GMT
New 36-month commercial term loan for Bradford C*** M*** U*** has been announced.
Total loan: £1,316,700 LTV: 57% Tranche A: £1,155k @ 8.82% gross (Cap £3k) Tranche B: £161.7k @ 10.04% gross (Cap £1k)
The purpose of the loan is to refinance the current lender. The security comprises two properties: - an industrial building currently operating as a bakery and tenanted a large UK baker on a 15-year lease until 2038, having been in occupation for over 15 years; - a former public house now operating as a cafe/restaurant and tenanted by a sole trader on a 10-year lease until 2031. The upper floors of this property are not in use and might be suitable for conversion to residential, subject to planning permission. The strategy will be to retain the properties as long-term investments and to refinance at the end of the loan's term.
See the full loan request and the two valuation reports for details which are available on the website.
Allocation of TrancheA for Always-On lenders has already taken place (Monday 30-Oct). Tranches A & B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Tuesday 31-Oct.
Update 10-Nov-2023: The loan was drawn down today and is due to mature on 10-Nov-2026.
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bababill
Member of DD Central
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Post by bababill on Nov 4, 2023 23:35:24 GMT
Did anyone receive the full 3K allocation?
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