Significant Redevelopment opportunity in North London with various exit options
- Location: London
- Amount Required: £100,000
- LTV for entire deal: 10%
- Sector: Development
LTV represents Loan To Value, where Value is an up to date valuation of the property involved and Loan is the total amount to be lent to the borrower, including the Investor's loan.
Client is an experienced developer with a partly completed development in North London which will generate c£1m upon completion which is anticipated for May 2010. The development consists of a build of 4 semi detached properties and this is funded through a prime lender. Details, pictures and spend can be provided.
Client’s own home is in a sort after part of the area and is the last un-developed property in the road and he is keen to take advantage of this and discussion with planners are encouraging. The intention would be to demolish the property and then build new state of the art home in keeping with the other properties on the road. There is significant profit achievable from this scheme.
The client is looking for the funds to allow planning to be applied for and all current cash is tied into the existing development. The client is intending to repay the investor via the sale of the developed units or from the refinance of the home once planning is granted - whichever is achieved first.
Client is happy to offer security against the development or home to suit the investors preference. There are other property assets available in the background and the client has a strong surplus income which can be used to cover interest if necessary
