loan to value
The borrower aimed to complete a time-of-the-essence purchase before initiating a multi-faceted asset management programme. The asset was a freehold garden centre in the heart of Oxfordshire.
We were able to provide an acquisition finance facility. Our team worked to ensure deal completion within the borrower’s tight timeframe.
The asset comprises 64,000 square feet of covered areas on a site of twelve acres. The covered areas accommodate the core garden centre, 25 further retail units and a restaurant. The remaining site includes car parks and ancillary storage areas.
This was our second loan to a private equity fund manager that has considerable expertise in acquiring non-core assets and maximising value. The loan was subsequently refinanced onto longer term financing.
“Our specialist expertise means we understand the facets of each deal and can move quickly. The team’s commitment ensured we delivered for the client in advance of their deadline.”
Ludo Mackenzie, Head of Commercial Property, Octopus Real Estate