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InterBay supports long term growth plans for Elizabeth School of London - London TV

InterBay supports long term growth plans for Elizabeth School of London

by London-TV in Business

Even in the specialist lending arena, some deals require extra specialism and experience to reach a solution. InterBay have recently completed on a case with Nick Sedgwick, Fortune Finance for a higher education organisation, Elizabeth School of London.

Elizabeth School of London, has been a Higher Education (HE) provider since 2011, has eight sites across the UK and provide educational partnerships with Bath Spa University and Canterbury Christ Church University amongst others.

The school was renting a space in London, however, required a place to call their own that would house their head office as well as teaching spaces. Upon finding the ideal location, their broker Nick Sedgwick of Fortune Finance reached out to InterBay’s Mo Parmar in search of a solution.

The client was looking for £6m on a capital interest basis and with Mo’s experience and expert knowledge, he was able to structure a semi-commercial deal at 64% LTV over a 30-year term. This solution was bought to fruition on the strength of the company and asset basis of the client. Extra reassurances for InterBay’s in-house real estate team came from possible alternative uses of the property.

Marc Callaghan, Head of Specialist Finance at InterBay said “This case is a great example of how InterBay can support a wide range of owner-occupier cases within the commercial and semi-commercial arena. Our in-house, expert team of underwriters can be bought into a case in the very early stages and can be involved throughout the application process to completion which is what happened here with Elizabeth School of London. The involvement of the underwriting team and real estate team meant the loan could be secured against two of the organisations other teaching sites in Northampton and Leicester.

Nick Sedgwick, Sales Director, Fortune Finance said “Having worked with InterBay and Mo for over 5 years now, they are my lender of choice when it comes to a specialist case such as this one with Elizabeth School of London. Mo has been involved in the client’s long-term growth discussions with me which has really helped to tailor this deal and provide insight for future plans. I am really looking forward to working with Mo again for this client to support their growth even further.”