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Industrial Units, Tewkesbury

Loan Amount
£646,000
Loan Term
24 months
REPAID
Lender Interest Rate
6.75% p.a.
Loan To Value (LTV)*
47% initial, reducing to 37% on completion of works
Key Loan Details

Security
1st legal charge over the Property
Interest serviceability
Interest will be funded for the first 12 months of the Term by drawdown of this loan and thereafter serviced by rental income.Initial interest cover is 232%, increasing 383% on full letting of new units
Capital Repayment
From a refinance of the Property prior to expiry of the Term
Purpose of loan
To refinance a fully let trading estate of 22,000 sq ft. Equity released will enable the construction of a further 13,000 sq ft of similar accommodation at the same location in Tewkesbury, Gloucestershire
Key Property Details

Valuation
£1,700,000 (Existing); £2,150,000 (On completion of works)
Use
Commercial
Location
South West
Virtual Data Room

Registered(Approved) Lenders may view Loan Documents such as the Valuation Report in more detail in our Virtual Data Room - hosted online by Box

Please contact Lender Support if you don't have access to Box
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If you would like to able to view the Loan Documents
Relendex Limited is registered in England, Company Number 07486328
Registered Office: 99-100 Turnmill Street, London. EC1M 5QP

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Important Notice

Relendex Limited is authorised and regulated by the Financial Conduct Authority (FRN: 723117).

Lenders participating in these arrangements should be clearly aware that any sum lent through the Exchange is a loan and not a deposit and its repayment is not guaranteed. It is in the nature of an investment opportunity. Any investor should consider an appropriate spread of risk. Non-institutional investors should seek professional advice before lending through the Relendex Exchange.

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