Our work - 23/12/2018

Bridge Loan to purchase Permitted Development site

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Amount funded: £455k
Property type: Commercial - with PD Consent
LTPP: 87%
LTV: 58%
Client structure: Development SPV

We provided a quick bridge loan facility to purchase a vacant shop with upper floors. The client had an option and had since obtained planning consent under Permitted Development. The client was let down on timescales by their development bank so we ensured he could secure the site with the uplift in value at the agreed original price.
 

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