£10m Development – Office to Residential conversion
When bridging leads to development
Loan Size: £10m
Location: South East
Loan Type: Development
Security Type: Office to residential conversion
Term: 24 months
About the Deal
The property in question was an existing office space, which had planning to convert into residential buildings. Our client needed assistance with the quick purchase, so came to us for a bridging loan to assist with the acquisition of the property.
The client used the term of the bridging loan to obtain enhanced planning and then we assisted with the development loan facility to assist them with conversion to residential dwellings.