SPF have advised Tatiana & Tremula on c£30m of commercial loans in July 2022

SPF have advised Tatiana Ltd & Tremula Property Investments on two commercial real estate loans in July, comprising a refinance of a 210-bed PBSA development in Nottingham and the purchase & redevelopment of 22 houses and a parcel of land in Wilton Park, Beaconsfield. 

The PBSA property, owned by Tatiana Ltd (a Jersey company) was refinanced by David Burke of Secure Trust Bank with a new 5 year investment loan of £9.4m, equating to a Loan to Value (LTV) at 65%.  The freehold property, located at Russell View was built in 2012 & marks SPF’s ten year association with the borrower and the property from the arranging the initial development loan to the current investment refinance. The scheme is managed by CRM Students, the UK’s leading provider of student accommodation and is located within a 15-minute walk to both the city centre and Nottingham Trent University’s city campus.

The Beaconsfield site was recently purchased by Scorpius Property Developments Ltd (a Tremula Property Investments Group company) and was financed by Steve Larkin, Head of Development Finance at Lendinvest. The scheme offered a unique opportunity to acquire 22 semi-detached and detached homes set in a stunning location, forming part of this regeneration project of Wilton Park, Beaconsfield.

The site was purchased with the option of full refurbishment and modernisation with the added benefit of planning consent to extend and re-model each home. The c£18m loan was structured at 70% LTV and 90% LTC over a facility term of 21 months.

Dan O’Neil, Director of SPF Private Clients advised on both loans and commented: “ We have enjoyed a long-standing and hugely rewarding relationship with these borrowers across both commercial and residential development funding sectors. Both loans encompassed significant technical challenges during the process, which together with the flexible approach adopted by both lenders, we were able to navigate collectively.

Raj Shah, Director of Tremula Property Investments Ltd commented: “ We are delighted to once again be working with Dan and the team at SPF Private Clients and very thankful for their hard work involved in these two complex loans.”