Inspired Lending provides landmark £5.7m loan facility for refurbishment of mixed-use investment property

By Bridging Loan Directory 19th September 2024

Inspired Lending has successfully completed its largest loan to date, providing a £5.7 million facility over an 18-month term to refinance and refurbish a prime mixed-use freehold investment property located in Shepperton, North Surrey.

The property comprises 11 retail units and 25 residential flats, forming a key part of the high street landscape.

The loan was designed to refinance the borrower’s existing high-street lender and provide £1.3 million for the refurbishment of the residential units at the primary security.

Refurbishment funds will be delivered in a series of tranches, ensuring the project proceeds smoothly and efficiently.

Secured with additional residential and commercial properties from the borrower’s portfolio in addition to the primary security, the loan facility was structured at a loan-to-value (LTV) ratio of 61% net on Day 1 and 64% LTGDV.

The deal’s complexity included an offshore parent company with shareholding held in trusts.

The borrower was introduced to Inspired Lending by their business advisors, who have a long-standing relationship with the CEO of Inspired Lending going back over 15 years.

The borrower’s exit strategy includes a combination of property sales and refinancing, ensuring a clear path to loan repayment.

Gavin Diamond, CEO at Inspired Lending, commented:

“This £5.7 million deal underscores our capability to handle complex, high-value transactions and highlights the strength of our relationships, which are built on a track record of delivery and our ability to apply a personal touch.

We worked closely with the borrower and their advisors, taking a bird’s-eye view of the case to develop a tailored funding solution that ensures the successful completion of the project.

This is a perfect example of how we go beyond traditional lending, using our expertise to deliver bespoke financial solutions.”