Arc & Co.’s Julian King, Asset Financial Advisor, arranged a development loan for his client who is building 8 new houses in a park-land setting as well as refurbishing a former coach house and vicarage.
Asset: 8 new houses in a park-land setting and a former coach house and vicarage
Loan: Senior development facility of £5.7 million. With an additional slice of mezzanine funding totalling £700,000. Total facility £6.4 million (65% LTGDV/87% LTC)
Gearing: 65% LTGDV/87% LTC
Term: 18 months
Rate: 7.5% p.a
For more information about this debt solution, please contact:
Julian King, Senior Asset Financial Advisor
Office: +44 (0)203 205 2190
Mobile: +44 (0)773 445 7547
Email: julian@arcandco.com