Evesham Mixed Use Redevelopment Loan
To finance the purchase of the property and redevelopment of the upper floors in to 7 apartments above a let commercial unit (commercial tenant being Barclays Bank PLC) in Evesham, Worcestershire
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Loan Amount
£1,330,000
Loan Term
12 months
Lender Interest Rate
8.25% p.a.
Loan To Value (LTV)*
56%
Key Loan Details
Annual interest
£133,000
Security
1st legal charge
Guarantee
Personal guarantee from the borrower for all sums due under the loan
Additional collateral
Debenture from the SPV
Interest serviceability
From retained loan proceeds for the loan term
Capital Repayment
From a sale of the individual apartments
Purpose of loan
Purchase & Redevelopment
Key Property Details
Valuation
£2,392,000 (Gross Development Valuation for Relendex)
Use
Mixed Use
Location
South West Midlands
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