Southampton £6.2m

Finish & Exit

Gross Loan

£6,292,131

Loan Type

Finish & Exit

Term

6 Months

LTGDV/LTV

61.4%

Annual Rate

7.08%

Monthly Rate

0.59%

This scheme involved a development project of 101 new build apartments. It also included ground floor commercial units. The property was close to completion when Avamore stepped in with Finish & Exit funding. Whilst the site was wind & watertight, it did not have final sign offs. This meant the project was not eligible for a traditional developer exit but instead, fitted the Finish & Exit.

The completed properties are close to good transport links in the city. They are situated near Woolston Station and Southampton Central, allowing for a 1 hour and 19 minute commute into London Victoria. The project is also 9 miles from Southampton International Airport which provides a series of domestic and European flights to several destinations. Additionally, the site is an 18 minute walk away from the town centre.

“It was an absolute pleasure working with Avamore on this transaction. Michael and Amit are clearly experienced professionals, which shone through when dealing with any technicalities and getting over any hurdles. Avamore were able to take a commercial view on items to help get the transaction completed in a short timeframe. I would definitely recommend Avamore to others.”

Share:

Share on email
Share on twitter
Share on linkedin
Share on facebook

YOU MAY ALSO LIKE TO VIEW

Finish & Exit
Refurbishment
Finish & Exit