Jeremy Robinson, Asset Finance Advisor worked with a private developer to help raise funding for his development site in Winchmore Hill, North London.
Asset: Acquisition of the site and a ground-up development of (now) 9 flats
Loan: Senior funding of £3.75 million with 80% of costs covered (including planning gain).
Mezzanine finance of £259,000 (Total facility - £4,006,000)
Gearing: 65% of GDV
Term: 19 months
Rate: The total facility was agreed at a blended rate of 7.85%
For more information about this debt solution, please contact:
Jeremy Robinson, Asset Financial Advisor
Office: +44 (0)20 3205 2199
Mobile: +44 (0)797 673 7552
Email: jeremy@arcandco.com