Post by eeyore on Nov 20, 2023 16:54:46 GMT
New 36-month commercial term loan for Stratford upon Avon M*** U*** has been announced.
Total loan: £275,000 LTV: 64.71%
Tranche A: £212.5k @ 8.6% gross
Tranche B: £62.5k @ 11% gross
The purpose of the loan is to raise capital for further property investment.
The security is a three-storey semi-detached property with two ground-floor retail units and eight residential flats on the upper floors. The flats each have 125-year leases expiring in 2131. The retail units are both tenanted, one is operating as a restaurant on a 15-year lease expiring in 2035 and the other as a laundrette on a ten-year lease expiring in 2027.
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 (Monday 20-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 Tuesday 21-Nov.
Update 23-Nov: The loan was drawn down today and will mature on 23-Nov-2026.
Total loan: £275,000 LTV: 64.71%
Tranche A: £212.5k @ 8.6% gross
Tranche B: £62.5k @ 11% gross
The purpose of the loan is to raise capital for further property investment.
The security is a three-storey semi-detached property with two ground-floor retail units and eight residential flats on the upper floors. The flats each have 125-year leases expiring in 2131. The retail units are both tenanted, one is operating as a restaurant on a 15-year lease expiring in 2035 and the other as a laundrette on a ten-year lease expiring in 2027.
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 (Monday 20-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 Tuesday 21-Nov.
Update 23-Nov: The loan was drawn down today and will mature on 23-Nov-2026.