Completed - £2.6M Refurbishment Loan for 9 Apartments in East Dulwich
Andy Stanbury, Director of Alburys Financials is delighted to announce the completion of a £2.6M Refurbishment Loan in East Dulwich.
Our Developer Client required funding to purchase a block of 9 apartments requiring full modernisation along with funding for the construction and professional costs, including interest roll-up.
The Client will also be applying for planning consent to add an additional floor as well as four further units in the car park.
We arranged for our valued client a 67% LTGDV, 18-month term facility at 7.5% per annum, allowing for a 12-month conversion phase and 6-month sales period. In addition, the Lender has agreed to fund any further works that are consented to.
The exit route to be - Sales and/or Investment Loan.
Andy commented “Speed and the flexibility of our Partner Lender was paramount. Tony was a great pleasure to work with, and we look forward to working with him again soon”
These are details of a previous deal we have helped our Client with. Any rates or terms expressed in this case study were specific to those clients’ circumstances and may not be available now. Any terms or rates offered to you may differ and will be subject to status.
If you have any questions or wish to discuss any funding requirements then please don't hesitate to contact us, we’d love to hear from you.