Leasing
Leasing allows payments to be spread across a fixed term and is often the most cash flow effective way of starting an indoor play centre. It can be equally effective for established play areas looking to refurbish or expand their facilities. We have set up links with Johnson Reed Associates, a company that we feel is able to appreciate the needs of the play industry and provide you with the help you require.
The following is an example of finance available. Please contact Johnson Reed Associates (address below) for further information.
Amounts of finance in excess of £45,000 can be achieved with security in the form of a charge over mortgaged property. Funders typically work on a ratio of 60% loan to value (of property). If insufficient equity is available in one property the funder may seek a charge over 2nd property i.e. Buy To Let, business partner or family member.
Example of maximum lend amount:
Property value: £190,000
60% of property value: £114,000
Outstanding mortgage: £50,000
Maximum lend: £64,000
Based on new play centre the rate/thousand is as follows:
Up to £10k = £38.09
Up to £20k = £37.40
Up to £30k = £36.88
Based on an established play centre the rate/thousand is as follows:
Up to £10k = £36.78
Up to £20k = £36.11
Up to £30k = £35.61
Based on 3 year profile (3 year)
Johnson Reed Associates
Bridge House
Newbridge Lane
Stockport, SK1 2NA
Tel: 44 (0)161 429 6949
Fax: 44 (0)161 429 6959
johnsonreed.co.uk
info@johnsonreed.co.uk
