Urban Exposure plc - Trading Update - Urban Exposure
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Urban Exposure plc – Trading Update

News

Urban Exposure plc (the “Company” or “Urban Exposure”), a specialist residential development finance firm and asset manager, today announces an update on trading.

In the period from 3 July 2018 to 17 October 2018, the Company has successfully closed 7 new loans, bringing total lending commitments since the IPO to c. £230 million. The loans cover development projects across the country, including Falmouth, Birmingham and Liverpool. Since the IPO, the Company has committed in aggregate to finance the construction of 975 private residential homes, 86 affordable housing units and 45,000 sq ft of commercial real estate (including office space, retail and a hotel). The weighted average LTV of the loan book is 62.5% with returns in line with expectations.

The Company is working on a number of other loans and asset management strategies which it expects to close shortly.

Randeesh Sandhu, Chief Executive of Urban Exposure:

 “We have a strong pipeline of opportunities to provide finance to high quality residential developers for mainstream housing projects across the UK and look ahead with confidence in continuing to deliver on our strategy to efficiently utilise our balance sheet lending funds, while growing our third-party asset management business.”

Enquiries:

Urban Exposure plcTel: +44 (0) 845 643 2173
Randeesh Sandhu, CEO
 
Liberum Capital Limited (Nominated Adviser and Sole Broker)Tel: +44 (0) 20 3100 2000
Neil Patel
Gillian Martin
Jonathan Wilkes-Green
Louis Davies
MHP Communications (Financial Public Relations)        Tel: +44 (0) 20 3128 8540
Barnaby Fry
Charlie Barker
Patrick Hanrahan 
Sophia Samaras 

 

Notes to Editors

Urban Exposure plc is a specialist residential development finance and asset management company that has been formed to provide finance for UK real estate development loans. The Company focuses on two main revenue streams: interest and fees generated on principal lending from its own balance sheet; and asset management income generated from managing and servicing real estate development loans financed by third parties. For additional information please visit Urban Exposure’s website: www.urbanexposureplc.com and on Twitter @UrbanExposureuk , Linkedin: www.linkedin.com/company/urban-exposure/ and Facebook: www.facebook.com/UrbanExposureUK/

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