£339,500
BACK TO LOAN PORTFOLIO
TOTAL LOAN AMOUNT AMOUNT FOR ASSIGNMENT INTEREST
PER ANNUM
LOAN-TO
VALUE
INVESTMENT
PERIOD
£339,500 £339,500 6.75% 70.0% 9 months
Assigned
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Additional Info

DRAWDOWN DATE : 25/09/2017
REDEMPTION DATE : 25/06/2018
FULL TERM OF THE LOAN : 9 months
INVESTMENT PERIOD : 9 months
CURRENT PROPERTY VALUE: £1,190,000
SECURITY : 1st charge
PROPERTY TYPE : Residential / Land - Plot
TENURE: Freehold

There are two distinct parts of the site. Firstly, there is an existing building on a site which is a two storey end-terrace house comprising three bedrooms, conventionally built we understand in the 1950’s or 1960’s by the local authority and conventionally constructed around cavity brick walls under double pitched tile roof. The windows have been replaced by uPVC aluminium framed double glazed type. The ground is of solid concrete and the first floor is suspended over timber joists. There is a gas-fired boiler in the ground floor lobby serving a low pressure radiator system throughout. The property was recently let but is now vacant and is in need of modernisation and improvements. There is a front and rear garden to the property which is unkempt and requires landscaping.

To the north of the site is a plot which has recently obtained planning consent for the development of a two bedroom detached house. At the present date this particular plot remains undeveloped. At the time of the valuation date the plot is held on one title and it is proposed that this will be split upon the development of the new house. We are informed by the applicant that the existing house will be refurbished and under permitted building regulations extended.