Some development funding transactions handled by Legat Corbishley.

Heathrow Travelodge
New hotel development will comprise 307 en-suite bedrooms, café, bar and restaurant facilities and 140 car parking spaces.

The scheme is pre-let to Travelodge on a new 35 year with 5 yearly RPI increases at an initial rental of circa £1,720,000 pa.

Acquired on behalf of a private investment company, the forward commitment reflected a net initial yield of circa 4.5%.

Plot 4500, Magna Park
Pre-let development of 20,903 sq. m (225,000 sq.ft) warehouse on England's premier distribution park.

Total commitment circa £17m.

Virgin Active
Health and fitness club development pre-let on a 35 year lease to Virgin Active.

Forward purchased for a private property company for circa £8m.