— Case Study | Development Completion

Background

Our client had purchased a commercial property in Hertfordshire with a view to renovating it and holding it as an investment. They had completed a majority of the renovation but their existing lender refused to advance the additional funds needed to complete the works.

Problem

What would usually have been a reasonably simple loan for the client to secure prior to COVID was made problematic by the fact they required the loan in the middle of the pandemic when the value of commercial property was highly uncertain.

Solution

We visited the property and saw the potential for value enhancement through permitted development rights if the commercial property market remained disrupted and refinancing was impossible. We were also certain our affiliated brokerage firm could complete this required refinancing.

B2 services

Finance, refinance brokerage

Outcome

The works were completed on schedule, and our client achieved a high level of occupancy quickly alongside receiving competing offers for refinancing.

Value Uplift

£1.25m (valuation at the time of the bridge was £2.6m, valuation for the refinance was £3.85m)