Loan

Loan #996585 Ludlow, SY8 2PG, United Kingdom

Property location
124-131 Corve Street Ludlow SY8 2PG United Kingdom

Executive Summary

Built-in approximately 1684 as a former public house, this grade II listed building with timber frame, currently managed as a bed and breakfast, is located in the beautiful market town of Ludlow, Shropshire. A highly sought-after tourist destination, Ludlow is known as the food capital of Shropshire and the host of the UK's first food ever food festival. Ludlow also attracts tourists to its medieval castle, historic racecourse and plethera of Michelin star restaurants.

Ludlow is an incredibly popular tourist destination with a distinct lack of accommodation providers, particularly for weekends and major calendar events. In 2021 Shropshire saw the second fasted tourism growth behind Wiltshire which makes Shropshire an exciting place to invest particularly in property and tourist accommodation. Our plan is to convert this beautiful building in its entirety to three self-contained (2x3 bed, 1x2 bed) apartments to be managed as high-end luxurious serviced apartments which can be charged either individually or as a whole unit for larger groups. which is a demand not currently met in the area.

The initial loan will be for the purchase of the property and a separate loan will be taken out for the refurbishment approximately 1-2 months after purchase. The refurbishment is expected to be complete in 6 to 9 months and will then be refinanced onto a commercial mortgage to repay the loan. 

Investing FAQ
Loan terms summary
  • Interest per annum 10.00%
  • 0% invested by 0 investor(s) 648,000.00 left
  • Risk class i
  • Expires Closed
  • Target amount €648,000.00
  • Profit share 0.00%
  • Term 12 Months
  • Payment frequency 1 months
  • Loan purpose Buy-to-rent
  • Type Bullet i
  • Mortgage rank First Rank
  • Total Loan Cover (TLC) 136.3%
  • Loan To Value (LTV) 68.4% i
  • Location
    United Kingdom
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