Post by eeyore on Jul 30, 2024 14:06:56 GMT
New 36-month commercial term loan for Burton-on-Trent R*** has been announced.
Total loan: £1,281,000 LTV: 70%
Tranche A: £915k @ 8.19% gross
Tranche B: £274.5k @ 10% gross
Tranche C: £91.5k @ 12% gross
The purpose of the loan is assist with the purchase of the leasehold property (999-year lease from 2022).
The security is a four-storey retail unit located in a shopping centre and currently tenanted by a high-street retailer on a three-year lease expiring in March 2027.
The strategy will be to retain the property as a long-term investment and to redeem the 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 for Always-On lenders has already taken place (Tuesday 30-Jul) and TrancheA is now fully filled.
Tranches B & C will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:00 on Wednesday 31-Jul.
Update: The loan has been drawn down and is due to mature in Aug-2027.
Total loan: £1,281,000 LTV: 70%
Tranche A: £915k @ 8.19% gross
Tranche B: £274.5k @ 10% gross
Tranche C: £91.5k @ 12% gross
The purpose of the loan is assist with the purchase of the leasehold property (999-year lease from 2022).
The security is a four-storey retail unit located in a shopping centre and currently tenanted by a high-street retailer on a three-year lease expiring in March 2027.
The strategy will be to retain the property as a long-term investment and to redeem the 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 for Always-On lenders has already taken place (Tuesday 30-Jul) and TrancheA is now fully filled.
Tranches B & C will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:00 on Wednesday 31-Jul.
Update: The loan has been drawn down and is due to mature in Aug-2027.
