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Hambros Secured Lending are pleased to announce our latest completion. Hambros provided a £5 million first charge facility to Bricks Silverstone for the development of a 197 room hotel immediately adjacent to Silverstone F1 racetrack.
The new hotel will boast exhilarating views of the infamous International Starting Grid. Operated by Hilton Garden Inn, additional amenities include a rooftop bar, outdoor terrace, restaurant and a state-of-the art fitness centre for a truly immersive racing experience.
Hambros, however had to act very swiftly to provide Bricks Silverstone with the short term facility required in order to meet the anticipated completion date of June 2020.
Robert Whitton, Hambros Chairman said; "we knew this would be a challenge but were very confident in our ability to execute extremely efficient, yet thorough due diligence to ensure we could complete on this landmark deal".
David Travers, CEO added: "with the clients already having started the process of securing a development facility with a strategic partner of ours, we knew that the tenant covenant was strong and we proved ourselves as highly efficient lenders in the market by following the clients urgent timeline and providing them with drawdown on the loan in just 5 days".
Hambros secured lending provide Mezzanine, Second charge and opportunistic first charge funding with a preferred term of 12 months. Minimum loan of 500k and maximum loan of 5,000,000.
For more information, please Contact Us.
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Hambros Secured Lending continued its excellent start to 2020 by finalising the Mezzaning finance to a well established developer to support the acquisition and development of the site in one of the most sought after villages in Suffolk.
Senior funder Hampshire Trust Bank introduced this case to us as they believe it represents a good scheme with a highly regarded sponsor behind it. The development, which already has planning consent, consists of 17 homes (3, 4 & 5 beds) in an exclusive private road, each with a family friendly garden. The development will utilise modular housing as its primary construction method.
Located close to the A1141, the site benefits from strong connectivity to the local surroundings and the larger towns. Sudbury, Hadleigh, Bury St Edmonds and Ipswich are all within a 30 minute drive. All the 5 closest primary schools are all rated outstanding or good by Ofsted and are within a 15 minutes drive radius.
Following extensive due diligence and board approval; Hambros have provided the client with a gross loan of £1.413m on a 20 month term. Hambros security sees us take a second charge over the development site plus 2 securities provided by sponsors. The sale of the properties by the client ensures our exit strategy, with 2 units having been sold off plan already.
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Hambros are pleased to announce that we have completed a second charge mezzanine finance loan of £3.4m to an experienced developer for the residential redevelopment of the former Thomson HQ in Farnborough, Hampshire.
Positioned only two minutes walking distance from Farnborough Station and with London Waterloo 34 minutes away, will bring 145 new units to the area.
Farnborough is a town (population circa 65,000) in the north-east of Hampshire, located approximately 34 miles to the south-west of London.
The property is located on the eastern side of Farnborough Road and is surrounded by a mix of residential blocks and offices buildings. Farnborough’s main commercial district is situated approximately 500 metres from the sire, hosting numerous shops, restaurants, supermarkets, a cinema and other amenities.
The clients have identified refinance and sales as to how they will repay their loan on time and our analysis and extensive due diligence supports this claim.
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Hambros are pleased to announce the successful completion of a £2.7m bridging facility to a major developer whilst they restructure and refinance the asset, known as Atlanta Boulevard in Romford.
Having successfully provided the bridging facility for drawdown in late 2019, Hambros are delighted to report that the developer has successfully completed their refinance and restructure and have fully paid back the facility including all interest charges and fees.
Atlanta Boulevard consists of a tertiary retail parade with residential and office upper level units to the south of Romford Railway Station. In front the site sits open bus stands and a supermarket and gym. Atlanta Boulevard consists of varying retail operators on the ground floor, offices on the first floor and 6 residential units above that.
The site is extremely well situated as it neighbours Romford Railway Station. A future Crossrail station that already provides high speed links into London (Stratford or London Liverpool Street). Romford is a historic market town and is now the principal town in the London Borough of Havering. It is identified as a metropolitan centre in the London Plan. Romford offers a vast amount of shopping options and is the 4th largest retail centre in London. Romford is a bustling town centre in its own right but also homes an abundance of commuters given the excellent transport links into central London.
The site is currently valued at £3.5m.