Pub Conversion, Alfreton
Black & White Bridging supported an experienced property developer with finance for the purchase and conversion of a former pub into 12 high-quality apartments in Alfreton.
The project showcases the borrower’s expertise in large-scale residential conversions, adding to their growing portfolio of care and residential units while meeting regional housing demand.
Amount Funded:
£855k
PRoduct type:
Commercial Bridging
Term:
12 months
property:
Pub Conversion – 12 Apartments
exit:
Refinance
Converting a former pub into 12 flats
An existing broker to Black & White Bridging approached us to help purchase a property of £360k to complete heavy refurbishment works and the conversion of a pub into 12 residential apartments that will cost £400k on top. The apartment block will include 2 x 2-bed apartments and 10 x 1-bed apartments, with a total of 12 parking spaces. The works will take around six months to carry out, as the borrower is an experienced property developer who has completed similar projects in the past. They already have three properties, which are leased to care home providers. They are well-connected in the industry and know the market well.
Supporting redevelopment projects
Our team structured flexible funding to support both the purchase and development phase, ensuring the borrower had the liquidity needed to deliver the full conversion without delay.
An experienced borrower
The borrower’s track record and professional approach made this a straightforward case to underwrite. Their established relationships with care providers and contractors helped streamline progress and reduce project risk.
Confident and clear exit
This deal highlights how experienced developers can leverage bridging finance to transform underused commercial spaces into high-quality residential units. With a clear exit via refinance and proven delivery capability, the borrower is set to add another successful project to their portfolio.
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Amount funded
£1.6m
PRoduct type:
Commercial Bridging
term
7 months
property:
Commercial office
exit:
Refinance
Commercial Bridging
The funding supported the acquisition of a strategically located semi-commercial asset in Birmingham, giving the borrower the flexibility and speed required to purchase the property prior to setting up development finance to undertake the proposed conversion works. The borrower plans to transform a former office building into a high-quality residential block of flats comprising 75 apartments, including 42 x 1-bedroom and 33 x 2-bedroom units. Full planning permission has already been obtained before completion, enabling the borrower to move forward with the next phase of the project.
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