Page 11 - Supplement - Bridging & Commercial Magazine Issue 5
P. 11

  Hackney: 65% Complete
Not Wind & Watertight
Avamore stepped in to support experienced borrowers on a mixed use scheme comprised of residential flats and additional office space. The borrowers faced unexpected construction delays causing them to run out of time on their existing development finance facility. Avamore stepped in and took comfort from the strong borrower experience and the liquidity of the residential market in Hackney.
•Avamore Rate: 0.67% p.m. (8.04% p.a.) •Loan Amount: £4,617,644
•Term: 15 months
•LTGDV: 57.0%
•GDV: £8,100,000 •LTC: 75.7%
“Avamore took on a difficult case both in terms of execution but also in terms of working to a tight deadline. The team’s dedication to ensuring completion of
the loan despite challenges was refreshing. The team at Avamore are well resourced but equally full of knowledgeable professionals that were a joy
to work with. We hope to do more with this group.”
Piragash Sivanesan, Founder, Totum Finance

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