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
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 Property prior 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
£1,700,000 (Existing); £2,150,000 (On completion of works)

Use
Commercial

Location
South West
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Relendex Limited is registered in England, Company Number 07486328
Registered Office: 45 Pall Mall, St James's, London. SW1Y 5JG
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