Wilton Place, Belgravia - Bridging Loan

Investment Summary

• OVERVIEW – This investment opportunity gives CapitalRise members access to fund the acquisition of the Property, which currently has planning to convert a mixed-use multi-unit dwelling into a single residential family-dwelling in the highly sought-after residential area of Belgravia. The Developer is seeking to further enhance the planning before commencing with the development of the Property. 
• TERM – The estimated term for this investment is 6-12 months. If the loan is not repaid by the end of the estimated term, returns will accrue on investments for a further 12 months from the end of the estimated term up until the hard stop date (July 2023). 
• PLAN – The developer will use this funding to assist with the property acquisition. Full planning permission has been approved to convert the current ground floor dental surgery, which is vacant, as well as the upper floor residential flats into a single residential dwelling. The Borrower is seeking a bridging loan to acquire and secure additional planning, and then intends to refinance this loan with a development loan at exit. 

• LOCATION – The property is located on Wilton Place, a well-regarded residential address with good connections to transport and local amenities. Belgravia is a highly sought-after Prime London location. The area appeals to affluent domestic and international purchasers. The Property is also extremely well connected to many world-renowned shops and restaurants in Knightsbridge and Sloane Street, with Chelsea and Mayfair also within easy reach. 
• PROPERTY – The property forms an end of terrace Grade II Listed house, sitting across six floors. Consented works include five bedrooms (of which, two are en-suite rooms), a gym room, laundry room, dining room, study, lobby, kitchen, and reception room. Additional planning is being sought to extend the basement, as well as to erect a glass atrium on the first-floor landing. 
• THE DEVELOPER – Old House Group will be completing this project. The team specialise in the acquisition and redevelopment of residential properties in Prime Central London. The director exhibits a successful track record, with completed projects valued in excess of £156 million over the last 10 years. 
• YOUR INVESTMENT – CapitalRise investors will benefit from a First Legal Charge over the Property. The Borrower has agreed to provide additional security in the form of a First Legal Charge over two other properties they own, and a Personal Guarantee limited to 25% of the total advance. Investors will always be first in line to be repaid when a payment is made against the loan. If the borrower is unable to repay the loan, CapitalRise will seek to force the sale of the properties on behalf of investors. The sales proceeds would need to be less than 60% of the anticipated market value for your invested capital and accrued returns to be at risk. 
• EXIT PLAN – The Borrower intends to refinance onto a development loan at exit.