Post by eeyore on Mar 22, 2024 13:05:20 GMT
New 36-month commercial term loan for Wednesbury P*** S*** is now available.
Total loan: £650,000 LTV: 65%
Tranche A: £500k @ 8.57% gross
Tranche B: £150k @ 10.65% gross
The purpose of the loan is to raise capital for another property investment.
The security is a filling-station with additional buildings to accommodate three self-contained retail units and a tyre-fitter's workshop. There a four separate tenants; two retail units and the workshop are on short leases and the filling-station, shop & first-floor flat are leased until Aug 2027.
The strategy is to maintain the existing leases and to refinance this loan at the end of its term.
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 (Friday 22-Mar) and has been fully funded. TrancheB will be available for Self-Select. Funds for Self-Select lenders must be in their cash accounts by 17:00 on Monday 25-Mar.
Update 27-Mar: The loan has been drawn down and will mature in March 2027.
Total loan: £650,000 LTV: 65%
Tranche A: £500k @ 8.57% gross
Tranche B: £150k @ 10.65% gross
The purpose of the loan is to raise capital for another property investment.
The security is a filling-station with additional buildings to accommodate three self-contained retail units and a tyre-fitter's workshop. There a four separate tenants; two retail units and the workshop are on short leases and the filling-station, shop & first-floor flat are leased until Aug 2027.
The strategy is to maintain the existing leases and to refinance this loan at the end of its term.
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 (Friday 22-Mar) and has been fully funded. TrancheB will be available for Self-Select. Funds for Self-Select lenders must be in their cash accounts by 17:00 on Monday 25-Mar.
Update 27-Mar: The loan has been drawn down and will mature in March 2027.