Educational Properties
Top of the class!
Location - Central London
Property Value - £22,000,000
Loan Amount - £8,000,000
Loan Type - Refinance
LTGDV - 37%

A school operator entered into a contract to sell the freehold of two Central London school properties which they own. The contract is subject to planning permission being granted for residential redevelopment and it is anticipated that the planning process will take approximately one year; in the interim it was necessary to refinance two separate loans which had expired.

We valued the properties “as is”, that is excluding hope value for development, and as there is a considerable demand for educational properties in Central London, the current value was confirmed to be sufficient to support the new loan. Repayment will be from completion of the sale of the properties.

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