Steerpike
Member of DD Central
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Post by Steerpike on Aug 18, 2022 12:25:17 GMT
Biggest ever loan for uOwn, £650k 20 months 20%, small part of a big redevelopment project.
Apparently repurposing existing 170 bed hotel creating 295 units, looking at the brochure map this appears to be H***t P***e S*uth*ll, if so, the obvious question is who would want to co-live on a busy road bordered by industrial units and shopping mall?
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
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Post by keitha on Oct 12, 2022 14:40:16 GMT
immigration centre ?
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Steerpike
Member of DD Central
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Post by Steerpike on Oct 12, 2022 14:46:55 GMT
Could be, plenty of demand it seems.
It is part of a much larger development and the UOWN loan is 75% funded now, so someone likes it.
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Steerpike
Member of DD Central
Posts: 1,961
Likes: 1,680
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Post by Steerpike on Jan 17, 2023 13:56:05 GMT
There is now a smaller second tranche at the lower rate of 9% (15% over 20 months).
I see that the hotel closed at the end of October 2022 allowing construction to start in November as planned.
However, the phase 2 schedule for construction and the start of rentals has now slipped a month compared with the phase 1 plan.
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