London £4.6m

Finish & Exit

Gross Loan

£4,617,644

Loan Type

Finish & Exit

Term

15 Months

LTGDV/LTV

57%

Annual Rate

8%

Monthly Rate

0.667%

The part-complete four-storey, mixed use development project was being led by a developer with extensive construction and development experience. Avamore stepped in with part-complete funding when the project was not yet wind & watertight.

The property is close to Shoreditch and Hoxton, both of which have good access to amenities. Moreover, the property is situated close to Hoxton Station which is served by the East London Overground line, making it easy to commute into central London locations. The part-complete funding provided the borrower with additional time and increased cash flow to finish the project.

“Avamore took on a difficult case both in terms of execution but also in terms of working to a tight deadline over Christmas. The team’s dedication to ensuring completion of the loan despite challenges was refreshing. The team at Avamore are well resourced but equally full of knowledgeable professionals that were a joy to work with. We hope to do more with this group.”

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