Client saving
Over £300,000
Margin secured
sub 170bps
Lender
Top tier bank
A 10,000 acre estate with over 100 residential and commercial properties
required extensive re-investment in its commercial operations to improve trading performance
The deal
Assets
- £100m + value landed estate
Security
- First charge on £30m of select properties, plus land security
Income
- Trading income from the estate
Requirements
- £5m refinance
- £10m equity release
Challenges
- Current trading performance
- Multiple existing lenders
- Seeking flexible drawdown
Facility Secured
- 10 year term, 50% LTV
- Top tier bank with industry specialism
Summary
Our client was a trading UK landed estate with an excess of 10,000 acres. The estate had more than 100 residential and commercial properties which produced various rental and trade incomes. With the leveraged funds, an extensive Capex programme was planned, investing in the development opportunities and commercial assets throughout the estate, to improve performance.
A lender with a flexible approach to drawdown of funds was required, allowing management to invest without the direct controls of lender on a case by case basis, and in a cost effective manner.
We secured a 10 year term facility at sub 170 bps margin (over BoE) with a top tier bank who had industry interest and specialism. This saved the client £300,000 compared to their incumbent provider’s rates.