Blackfinch Secures £400k Loan for Retail Units in London and Hertfordshire

Blackfinch Property has finalized a £400,000 commercial mortgage to refinance two retail units in North Finchley and Hemel Hempstead. The 24-month loan was closed in December, providing benefits to the borrower, including lower rates on residential parts of the properties. The financing deal was executed swiftly, achieving completion just before Christmas. The Hemel Hempstead unit operates as a coffee shop with an EPC E rating, while North Finchley's unit holds an EPC D rating. Blackfinch incentivized the borrower to enhance these ratings with improvements such as wall insulation and updated heating systems. The lender, Blackfinch, expressed enthusiasm for supporting the borrower, Glencar, in their future real estate development initiatives across the UK.