From empty offices to affordable homes
We helped finance the conversion of a vacant office building in Hinckley into 25 affordable apartments.
We provided a 19-month, £1.8 million senior development facility to an experienced property developer based in Leicester.
We helped to breathe new life into a tired former building society head office, converting it into 25 apartments that serve as ideal starter homes for local residents. An initial bridging facility allowed for delivery of a planning uplift, which was then transferred into a development facility to complete the conversion to flats.
Gross Loan
£2.2M
Term
19 Months
LTV
67%
Units Created
25
Exit Method
Sales & Refinance
“A great example of permitted development in a local landmark building. We helped to keep the developer funded and working during the lockdown meaning he could deliver to budget.”
- Paul Hayward, Senior Investment Manager
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