- Loan amount
- 12 months
- Loan term
The funds were required for a separate purchase in London, but also to free up some working capital to cover planning and professional fees for the underlying security. The property was a vacant hotel, the planning potential was strong – also supported by the existing building and the ability to work within this floor plate to increase the chance of success at planning.
After 10 months in planning the site was approved for 80 residential apartments, the borrower is now delivering the scheme, we were happy to assist with the finance requirements and contribute to this new development in South-West London.