Leading real estate peer-to-peer lender, LendInvest, has funded the multi-million pound redevelopment of Newcastle's Wet N' Wild water-park....
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div>Leading real estate peer-to-peer lender, LendInvest, has funded the multi-million pound redevelopment of Newcastle's Wet N' Wild water-park.
LendInvest lent Moirai Capital a facility which allowed the leisure centre developer to acquire the site from administrators, and to renovate the water-park back to an A grade level. LendInvest, which provided the loan to investors in tranches, had over 100 investors partake in the loan.
Moirai Capital, which has a long-standing relationship with LendInvest (and its associated funds management business, Montello), has secured a long-term lease for the water-park with Serco Leisure, which is one of the largest leisure operators in the UK.
Co-Founder of LendInvest, Christian Faes, commented: “This is a great example of the flexible funding that LendInvest can provide to the market. The borrower required funding quickly in order to secure the opportunity; and we were able to work with the borrower to ensure they had sufficient funding to complete the required works.
The borrower now holds one of the leading water-park centres in the UK, which is let to one of the leading operators in the space. Also, investors received a great return for their investments.
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