Develop North (formerly TOC Property Backed Lending : PBLT) aims to provide shareholders with a consistent and stable income and the potential for an attractive total return over the medium to long term.
The company seeks to achieve its investment objective through a diversified portfolio of fixed rate loans predominantly secured over land and/or property in the UK. The company attempts to reduce downside risk by focusing on secured debt with both quality collateral and contractual protection. The company makes investments primarily through senior secured loans although other loans such as bridging loans, subordinated loans, selected loan financings and other debt instruments may be considered if appropriate. The typical loan term is between one and five years. The company retains absolute discretion to make investments for either shorter or longer periods.