£2.6M Refurbishment Loan for 9 Apartments in East Dulwich
Andrew Stanbury, Director of Alburys is delighted to announce the completion of a £2.6M Refurbishment Roan in East Dulwich.
Our Developer Client required funding to purchase a block of 9 apartments requiring full modernisation along with funding for the construction and professional costs including interest roll up.
The Client will also be applying for planning consent to add an additional floor as well as four further units in the car park.
We arranged for our valued client a 67% LTGDV, 18-month term facility at 7.5% per annum, allowing for a 12-month conversion phase and 6-month sales period. In addition, the Lender has agreed to fund any further works that are consented.
The exit route to be - Sales and/or Investment Loan.
Andrew commented “Speed and the flexibility of our Partner Lender was paramount. Tony was a great pleasure to work with and we look forward to working with him again soon”
If you need any assistance with your requirements, please feel free to get in touch.