Case Study
Bridge to sell
— Case Study | Bridge to sell
Background
Our client owned a bakery in an area of South London undergoing gentrification. They had agreed a sale subject to planning to a developer but were in danger of losing control of the building due to unpaid utility bills. Our client needed £700,000 against a building valued, pre-planning, at £2m.
Problem
Our client had been let down by another lender and needed the funds within 7 days, the date of their court hearing with the utility provider.
Solution
We analysed our client’s requirements and agreed to outline terms within 24 hours. We arranged for a valuer to inspect the building within 48 hours and concluded the loan within 5 days.
B2 services
Finance only
Outcome
The developer obtained planning consent and our client concluded a sale at a value of £4m.
Value Uplift
£2m
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