Orpington £2.5m

Finish & Exit

Gross Loan

£2.5m

Loan Type

Finish & Exit

Term

12 months

LTGDV/LTV

62.7%

Annual Rate

7.2%

Monthly Rate

0.604%

The former office building has been granted planning permission to be converted and extended into 12 residential flats. The experienced borrower has completed a number of conversions and was part way through the permitted development scheme when Avamore stepped in with additional build facility. The former office building has planning permission to be converted and extended into 7 x2 bed flats and 5 x1 bed flats; 2 of each will benefit from private balconies.

The property is situated in a good commuter location for those working in central London. It is in walking distance of Orpington Railway Station with 30-minute access into London Bridge and Charing Cross stations. It also has good road transport links, the A21 is nearby which provides access to the M2 and a 35-minute drive to London Gatwick Airport.

Furthermore, upon completion, the individual units of the property will be supported by the government’s Help-to-Buy scheme, providing property purchase opportunities for first time buyers.

“Avamore always tailored to our needs, resulting in a very happy client. I was in constant contact with the decision makers, allowing the deal’s process to move forward swiftly. I was impressed by their in-house expertise and their dedicated work ethic. It is safe to say that I am already looking forward to my future endeavours with them.”

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