The Developer bought this 2-storey office building called Kian Court in Eynsham and obtained planning consent to convert into 16 one and two-bedroom flats. We advanced £1,450,000 against a purchase price of £2,850,000. The Developer has many projects to his credit and we had a high level of comfort with them. We lent to the SPV with a first charge over the building along with Directors’ Guarantees. The project is now complete with the flats being successfully marketed by a local agency.
The office block was situated in a somewhat industrial area but within easy walking distance of the village centre and local amenities. The site offers country walks along the River Thames.
To maintain client confidentiality, we have provided a generic outline only.