An experienced landlord and businessman was looking to buy a commercial unit in Greater London. For a 12-month bridge, our client introduced their exit plan, which was a sale of two other properties.
The property was a two-storey, late 1900’s built, end of terrace warehouse unit, located within an industrial estate. It was also owner-occupied at the time of valuation, which mean there was no rent roll.
Property value: £900,000
Initial gross loan: £347,000
Completion: 1 month
Despite a few bumps on the road, our legals overcame the obstacles so our team could offer the loan within the deadline set by another bank on the client.