Post by eeyore on Nov 7, 2023 12:24:52 GMT
New 36-month commercial term loan for Woolwich M*** U*** has been announced.
Total loan: £670,000 LTV: 65.4%
Tranche A: £512.5k @ 8.0% gross (Cap: unlimited)
Tranche B: £153.75k @ 9.9% gross (Cap: unlimited)
Tranche C: £3.75k @ 10.5% gross
The purpose of the loan is to refinance the current lender and to raise further capital.
The security is a three-storey property (with basement) comprising a ground-floor retail unit and two residential flats on the upper floors, together with a small lock-up unit. The property is fully tenanted, the retail unit trading as a halal butcher on a 12-year lease expiring in 2029.
The strategy will be to retain the property as a long-term investment and to refinance at the end of the loan's term.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA for Always-On lenders has already taken place (Tuesday 7-Nov).
Tranches A & B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Wednesday 8-Nov.
The tiny TrancheC is already filled.
Update 8-Nov: Cap limits for Self-Select removed.
Update 9-Nov: The loan was drawn down today and will mature on 9-Nov-2026.
Total loan: £670,000 LTV: 65.4%
Tranche A: £512.5k @ 8.0% gross (Cap: unlimited)
Tranche B: £153.75k @ 9.9% gross (Cap: unlimited)
Tranche C: £3.75k @ 10.5% gross
The purpose of the loan is to refinance the current lender and to raise further capital.
The security is a three-storey property (with basement) comprising a ground-floor retail unit and two residential flats on the upper floors, together with a small lock-up unit. The property is fully tenanted, the retail unit trading as a halal butcher on a 12-year lease expiring in 2029.
The strategy will be to retain the property as a long-term investment and to refinance at the end of the loan's term.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA for Always-On lenders has already taken place (Tuesday 7-Nov).
Tranches A & B will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Wednesday 8-Nov.
The tiny TrancheC is already filled.
Update 8-Nov: Cap limits for Self-Select removed.
Update 9-Nov: The loan was drawn down today and will mature on 9-Nov-2026.