Post by eeyore on Aug 25, 2021 15:59:13 GMT
New 24-month commercial term loan for Connahs Q*** M*** U*** (PLL1020) has been announced.
Total loan: £240,500 LTV: 65%
Tranche A: £185k @ 6.08% gross (Cap £1k)
Tranche B: £55.5k @ 7.9% gross (Cap £1k)
The security is a property with two ground-floor retail units and a single residential flat on the first floor.
The strategy is to maintain the building, currently leased to two tenants, and to apply for planning consent to extend the residential accommodation.
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 (Wednesday 25-Aug).
Tranches A & B will be available for Self-Select, both capped at £1k. Funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 26-Aug and allocation will take place on Friday 27-Aug.
Loan drawn down on 13-September (Seven days Pre Draw Down Interest paid)
Update 29-Sep-2023: the loan was repaid in full (together with 16 days of penalty interest) following the draw down of its refinancing loan.
Total loan: £240,500 LTV: 65%
Tranche A: £185k @ 6.08% gross (Cap £1k)
Tranche B: £55.5k @ 7.9% gross (Cap £1k)
The security is a property with two ground-floor retail units and a single residential flat on the first floor.
The strategy is to maintain the building, currently leased to two tenants, and to apply for planning consent to extend the residential accommodation.
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 (Wednesday 25-Aug).
Tranches A & B will be available for Self-Select, both capped at £1k. Funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 26-Aug and allocation will take place on Friday 27-Aug.
Loan drawn down on 13-September (Seven days Pre Draw Down Interest paid)
Update 29-Sep-2023: the loan was repaid in full (together with 16 days of penalty interest) following the draw down of its refinancing loan.