From the administrators' statement

The Company was incorporated in February 2015 as an SPV in order to develop a property at 4-4b Reddown Road, Coulsdon, Surrey, CRS 1AX (“the Property”).

The Property was purchased in April 2016 for £1,260,000, with funding provided by Aldermore Bank Plc who were granted a fixed charge over the Property.

In December 2018, when the development of the 12 apartments was close to completion, the debt was then re-financed by way of a 12 month bridging loan from Interbay Funding Limited (“Interbay”). Interbay was granted a fixed and floating charge, which is detailed further below, and the previous charge was satisfied.

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Equity Real Estate (Sigma) Limited (09453607)

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