Southampton (Shirley Road) Residential Mezzanine Loan
Currently a Vacant office building with planning permission for the conversion into 10 residential units
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Loan Amount
£225,000
Loan Term
12 Months
Lender Interest Rate
10.50%
Loan To Value (LTV)*
77%
Key Loan Details
Annual interest
£23,625
Security
2nd Legal Charge
Guarantee
Personal Guarantees From the directors for the capital value of the loan plus interest and cost overruns
Interest serviceability
Interest will be payable quartley in arrears from proceeds retained from the Loan
Capital Repayment
sale of the units upon completion
Purpose of loan
to provide funds for the conversion of an office building into 10 residential units
Key Property Details
Valuation
£1,870,000
Use
Residential
Location
South East
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