Secured Loan Calmez Borrower - East Wittering 8% net p.a. Secured First Charge Loan Note

East Wittering, West Sussex

Here is the opportunity to earn 8% net p.a. by investing in a secured, fixed return first charge loan note, which will help enable the refurbishment and new build extension to an end of terrace retail and residential property to create 6 flats with a commercial unit below.

13 months Projected term
8% Annual interest
65% Loan to Value
1st charge Security
£90,000 Fund amount
100% Funded
Loan
112 investors

Project Description

Secured Loan

Available Loan
£90,000
Total Loan
£862,950
Total Security
£1,330,000
Start Date
06/08/2018
Estimated Term Remaining
7 months

Project Overview

Opportunity to earn 8% net p.a. by investing in a secured, fixed return first charge loan note in East Wittering, West Sussex.

Exit Strategy

The units will be sold on the open market. Local agents predict strong interest from potential buyers for such a high quality new development of flats with likely interest to come from first-time buyers, downsizers and investment/second home buyers. The developer will be applying for the government Help to Buy incentive funding which will provide an additional attraction for buyers. Potential exits are contingent upon a successful fundraise and implementation of the business plan.

Sponsor

Calmez are expert property development funders who provide loans and mezzanine funding of up to £3,000,000+ for residential development projects. You can read more about Calmez on our blog by clicking here.

Security Description

Property Type
Development
Tenure
Freehold
Valuation Date
20/03/2018
Valuer
Haslams Chartered Surveyors
Valuation
£1,330,000