Auction Details - Industrial Units, Tewkesbury

LOAN AMOUNT
£646,000
LOAN TERM
24 months
REPAID
LENDER INTEREST RATE
6.75% p.a.
LOAN TO VALUE (LTV)
47% initial, reducing to 37% on completion of works
Industrial Units, Tewkesbury

KEY LOAN DETAILS
Security:
1st legal charge over the Property
Interest serviceability:
Interest will be funded for the first 12 months of the Term by drawdown of this loan and thereafter serviced by rental income.Initial interest cover is 232%, increasing 383% on full letting of new units
Capital repayment:
From a refinance of the Propertyprior to expiry of the Term
Purpose of loan:
To refinance a fully let trading estate of 22,000 sq ft. Equity released will enable the construction of a further 13,000 sq ft of similar accommodation at the same location in Tewkesbury, Gloucestershire
KEY PROPERTY DETAILS
Valuation / Est. current value:
£1,700,000 (Existing); £2,150,000 (On completion of works)
Use:
Commercial
Location:
South West




Important Notice

 

Relendex Limited is regulated in the United Kingdom by the Financial Conduct Authority and entered on the Financial Services Register - FRN 723117.

 

Lenders participating in these arrangements should be clearly aware that any sum lent through the Exchange is a loan and not a deposit and its repayment is not guaranteed. It is in the nature of an investment opportunity. Any investor should consider an appropriate spread of risk. Non-institutional investors should seek professional advice before lending through the Relendex Exchange.
View Notice in full

 

Relendex Limited is registered in England, Company Number 07486328 Registered Office: Ground Floor, 45 Pall Mall, St James’s London, SW1Y 5JG

 

Relendex Limited is registered under the Data Protection Act, Registration Number PZ2708231

 

 


Grow Your Money