We are delighted to bring you our latest secured loan note opportunity, Smithfield House. This is a stylish, new build development over seven floors comprising of 62 one and two bedroom apartments, just a stone's throw from Birmingham's city centre.
The opportunity enables you to invest in this project alongside the developer for an anticipated term of 24 months, whilst generating returns of up to 8.5% on your monies invested.
You can choose to receive your interest at 8.5% per annum, payable upon redemption, or receive your interest quarterly at 8% per annum. . . ideal for those seeking income.
The loan note is available via cash only, with a minimum investment amount of £10,000.
The total raise for this secured loan note opportunity is £2m, which will be secured by way of a first charge over the development land asset. The land has a Savills valuation of £2.230m and valued at £2.835m once planning is granted. It has a gross development value of £18.5m. The Full Red Book valuation is dated September 2019. The purpose of the loan is to repay the existing loan note.
Smithfield House is prime location within Birmingham, located on Bradford Street, just a short distance from the city centre and it's vast array of business, retail, leisure and entertainment facilities. The development is also prime location within the overall £1.5 billion regeneration of the Smithfield masterplan. Please see the video below from Prosperity, to give you an idea of the extent of the exciting regeneration taking place.
This is an excellent short-term investment option for investors who have money in the bank making very little by way of returns in today’s low interest rate environment. It is also perfectly suited for those who like the concept of property investment but have chosen not to invest.
Keep reading to find out more about what makes the loan note such a great investment. . .
Reasons to Invest
- Capital raise of £2m;
- Earn 8.5% on your investment per annum, payable upon redemption, or 8% payable quarterly;
- Earn early bird interest of 4% during the capital raising period;
- Invest via cash only, £10,000 minimum investment;
- Anticipated 24 month investment term;
- Security by way of a first charge over the assets of the development land;
- Land valued at £2.230m by Savills and a Gross development value of £18.5m;
- Rigorous due diligence process undertaken by a solicitor.
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