A smart redevelopment of an existing office building into 32 apartments
The conversion of a former office building which provides clever utilisation of an existing structure to create 32 new apartments.
We provided a £6.9m loan facility to a group of experienced developers to reconfigure an office building with improvements to the internal layout to deliver a selection of studio, 1 bedroom apartments and 2 bedroom apartments. Conveniently located within walking distance of Billericay train station and its main line connection into central London.
Gross Loan
£6.9m
Term
18 months
LTV
68%
Units Created
32
Exit Method
Refinance
This loan facility required a creative solution from our credit team to accommodate the borrower’s needs. We were pleased to support our client and professional partners who have a proven track record.
- Alan MacLeod, Director of Credit
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