2907 - Kilburn, London
Name of case study: 2907 - Kilburn, London
Gross rate: 9.00% pa
Term: 24 months
Loan amount: £756,000
Type of property: Commercial
Security: 1st charge
The loan was for the acquisition of this commercial property located on the corner of Cambridge Gardens and Cambridge Avenue, in a prime location near Maida Vale. Nearby offers an excellent selection of retailers, restaurants, cafes as well as numerous public open spaces.
The first charge commercial bridging loan was for £756,000 for 24 months, with an LTV of 72.70%. The property used as security comprises a four story Grade II listed link building, and is currently the local area's main doctors surgery, with established tenants. The client is looking to retain the property long term and refinance out of the bridge.
The property provides future opportunities for increased revenue with rent reviews upon the next anniversary of the tenancy.