Kinloch Real Estate have arranged a Senior debt facility for a £10.6m GDV development in Kent.
Kinloch arranged the facility of £6.85m to run for 18 months for an experienced developer who has worked with Kinloch for several years . The facility represents 65% GDV . The scheme comprises 12 apartments , 6x 3 bed terraced properties , a 5 bed detached house and 2x 4 bed semi-detached houses set in the extensive grounds of a former school. Since the funding was confirmed in mid April the developer has sold off plan 6 of the apartments and is on target to complete the development within 12 months.
A busy couple of months for Kinloch Corporate Finance. In February we completed £8.65m funding on a new build Student accommodation in Bristol for our clients Westover Student Homes and also advised them on a site purchase for a further development in the West Country.
In March Kinloch Corporate Finance were retained to advise on the sale of a family run food manufacturing company based in the Midlands. This is a third generation family business that has now decided to exit due to conflicting interests amongst the family shareholders. Kinloch are advising on the best route to exit , strategy and the preparation of the Information Memorandum prior to the sale. This is a very profitable company with an Ebitda of circa £5m and a number of quality brands.