Drapery | Northampton

Loan Type

Development Finance

Loan Amount

£13,619,310

Term Length

23 Months

Leverage Levels

30%

LTP

82%

LTC

69%

LTGDV

Purpose

To finance the demolition of an existing vacant premises and the construction of a 201-bed PBSA block with amenities and a ground floor commercial unit.

Exit

To either sell the development or retain the it as a stream of income.

Loan Strengths

  • The scheme will tackle the scarce supply of single occupancy studio beds in the local student market
  • Excellent additional amenities which will exceed other student accommodation in the area
  • Experienced local developer in the PBSA sector
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