Hilco provides £3.9m development exit loan against London petrol station

By Bridging Loan Directory 23rd September 2024

Specialist bridge lender Hilco Real Estate Finance (HREF) has completed a development exit loan of £3.9m secured against a new build petrol station located in South East London.

The loan, delivered at 70% net LTV, has an excellent sponsor and is secured against an asset that will have a strong tenant.

Steve Allen, Business Development Director for HREF, said:

“Loans against specialist assets such as petrol stations can have their challenges, however, the experience of our team here at HREF means that we are able to take a flexible and sensible approach and deal effectively with these types of unusual scenarios.”

HREF was advised on the transaction by Graham & Sibbald surveyors and Lawrence Stephens Solicitors.