Asset Type Vacant commercial building with 50% pre-lets
Purpose Refinance existing bridging loan and release equity for related capital expenditures
Loan Amount £7,200,000 (70% LTV)
Freehold Value £10,250,000
Loan Term 12 months + 12 months extension
Security Type 1st Charge
Interest Rate 10.8% p.a. (6 months retained, serviced thereafter from borrower’s own resources)
Exit Development finance