BRIDGE & DEVELOPMENT FINANCE TO ACQUIRE SOLICITOR OFFICE FOR RENOVATION
About This Project
- Acquisition: Property developer acquisition of a worn commercial premises. Bridge loan funding secured at 70% LTV.
- Bridging & Development Finance: Due to the property’s condition and renovation plans, a combination of bridging and development finance was secured to fund both the purchase and refurbishment.
- Full Renovation Strategy: The finance enabled a complete transformation of the space, elevating it to a modern, professional standard suitable for a legal practice, and a long term secured lease yield of over 12%.
- Smart Exit Planning: Upon completion of the renovation, the developer successfully refinanced the property with a mortgage lender on a long-term term loan—providing stability and a smooth transition from short-term finance.