Loan

Loan #780442 Wallasey, CH44 5TP, United Kingdom - PART 2

Property location
4 Liscard Road Wallasey CH44 5TP United Kingdom

Executive Summary

This Loan is the second out of a three-part loan series. These projects are inseparable from each other, which is stated in the Loan Agreement. 

Please note that the Loan To Value (LTV) on this project is based on this single fundraiser of 200,000 Euros. The total LTV will be 76.9% based on the Gross Development Value (GDV) of €1,425,000 (based on the exchange rate between Euro and GBP on 25/02/2022) plus two material guarantees of 50,000 Euros each.

This development by Alfa Property Group is being conducted under full planning permission from the local council under reference APP/21/00128. The developer is converting the upstairs of these 2 office buildings into 6 residential apartments whilst retaining the commercial units below. The objective would be to sell the units once converted which will redeem the loan so the developer can move onto their next project. If that is not possible then the developer will seek mortgage finance to repay the loan. 

This second loan is the first of two refurbishment loans required at different stages of the refurbishment. Expected overall Gross Development Value is 1,410,300 euros.

The properties stand within an established mixed commercial area with similar trading premises. 

Investing FAQ
Loan terms summary
  • Interest per annum 10.00%
  • Fully subscribed 200,000.00 raised
  • Risk class i
  • Expires Closed
  • Target amount €200,000.00
  • Profit share 0.00%
  • Term 12 Months
  • Payment frequency 1 months
  • Loan purpose Buy to sell
  • Type Bullet i
  • Mortgage rank First Rank
  • Total Loan Cover (TLC) 155.0%
  • Loan To Value (LTV) 64.5% i
  • Location
    United Kingdom
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