Specialist property lender, Oblix Capital has completed on a £4.06 million commercial bridge situated in the Scottish capital of Edinburgh.
The facility was finalised on a 6-month loan term at 65% LTV, enabling the borrower to finance the purchase of a site located in Edinburgh. Following the acquisition, the borrower will look to fund the construction via development finance which will see the site transform into contemporary student accommodation.
Andy Reid, Sales Director at Oblix Capital commented:
“Since expanding into the Scotland in early 2017, the market has seen an upward trajectory despite the issues plaguing the wider UK market. This view is further reinforced by the fact that Edinburgh has seen higher prime value growth than any other UK city and opportunities for specialist finance are becoming more and more sizeable.”
“This is somewhat of a hallmark completion for Oblix as it marks our largest Scottish deal to date. We have been working hard to ensure that our products are in-line with our clients’ needs and we are excited that the Oblix brand and presence in the Scottish market is gaining momentum, given the demand we are seeing in this region.”