The investment properties was purchased on 24 September 2021, 27th May 2022 and 26th July 2022. The fair value of the properties as at 31st March 2023 has been arrived at on the basis of a valuation carried out at that date by Mr Luke Antonio Caccavale, the sole director of the company who is not a professionally qualified valuer. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location and takes into account the state of the rental market in the area where the properties are situated.
The company has allowed a legal charge over the company’s assets, including the investment properties as security for the mortgage loan.