Loan

Loan #1158673 Oldham, OL4 2QZ, United Kingdom

Property location
17 Sharples Hall Street Oldham OL4 2QZ United Kingdom

Executive Summary

Lizzy Investments Ltd. presents a great investment opportunity with this project to convert a 2-bed terraced property into a high-specs 5-bed HMO. This tired property will get a complete makeover. The inside will be striped to the core structure, steels will be put into place, and a loft conversion will be implemented. The 5 ensuites will be created, and everything will receive a very high-quality finishing, creating very comfortable rooms. The project has a high return on capital employed (24%) and will take 6 months. The duration of the loan will be for 10 months, taking into account the time for refinancing and any delays during the refurbishment.

Further details:

•This 2-bed mid-terraced house will be converted into a high-specs, 5-bed all ensuite HMO.

•The property has already been purchased, and work has started.

•The building company is a sister company of the rental agency, this way, we make sure the refurbishment will be done to the needs of the future tenants.

•Target tenants are workers, probably government workers. Another possibility is a corporate lease.

•The property is not in an article 4 area and just needs an HMO license to operate. Without a license, 4 of the 5 rooms can be rented.

About Oldham:

•Oldham is a city in the Greater Manchester Area with a population of roughly 237.000. The population has grown by 5% in the last 10 years.

•The town centre is about 30 minutes from Manchester and is therefore close to many job opportunities in either blue-collar or white-collar jobs.

•Health Care, Retail, Education and manufacturing are the largest industries in Oldham, with many of these government institutions.

Investing FAQ
Loan terms summary
  • Interest per annum 10.00%
  • Fully subscribed 165,000.00 raised
  • Risk class i
  • Expires 21 day(s) left
  • Target amount €165,000.00
  • Profit share 0.00%
  • Term 10 Months
  • Payment frequency 1 months
  • Loan purpose Bridging
  • Type Bullet i
  • Mortgage rank First Rank
  • Total Loan Cover (TLC) 127.3%
  • Loan To Value (LTV) 78.6% i
  • Location
    United Kingdom
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