Post by eeyore on May 24, 2021 13:01:40 GMT
New 36-month commercial term loan for Nottingham B*** & R*** (PLL0991) has been announced.
Total loan: £300,000 LTV: 20.7%
Tranche A: £300k @ 6% gross
The security is a first legal charge on the freehold of a GradeII-listed building in a five-storey terrace. The property is leased to a national chain, with over ten years to the next lease break but with an overdue rent review yet to be agreed.
The exit strategy is either to sell the property after the rent review or to refinance the loan at the end of the term.
For the details, see the full loan request and valuation report which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Monday 24-May).
Email from Proplend: this loan has been fully funded by Auto-Lend Always-On lenders, so there will be no funds allocated to Self-Select lenders.
Total loan: £300,000 LTV: 20.7%
Tranche A: £300k @ 6% gross
The security is a first legal charge on the freehold of a GradeII-listed building in a five-storey terrace. The property is leased to a national chain, with over ten years to the next lease break but with an overdue rent review yet to be agreed.
The exit strategy is either to sell the property after the rent review or to refinance the loan at the end of the term.
For the details, see the full loan request and valuation report which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Monday 24-May).
Email from Proplend: this loan has been fully funded by Auto-Lend Always-On lenders, so there will be no funds allocated to Self-Select lenders.