Income & exit assumptions
Sets the appraisal's rental level, exit yield and construction cost directly (Income ÷ Yield = Value). Workbook baseline: £30/sqft rent, 6.30% yield, appraisal-level costs.
Annual net cash flow by tranche
Investment (draws), return, equity sweep, disposal surplus and combined debt service — years 1–
Financing waterfall — Scenario 1 close-out
Amounts committed, drawn, and returned at disposal (month set by hold period)