Auction refurbishment, Coalway
The borrower is purchasing this auction property that is in need of full refurbishment. They are experienced property professionals, adding to their current portfolio.
Amount Funded:
£247k
PRoduct type:
Refurbishment Bridging
Term:
12 months
property:
Detached house
exit:
Refinance
This corner plot is a three-bedroom detached house in Coleford, Gloucestershire, that needs modernisation. It has a large garage and a rear garden with off-street parking. It's close to the centre of Coleford, where there is a range of shops, close to Gloucester national rail station, with the surrounding countryside providing a range of recreational amenities. The entire house is in need of full refurbishment; a new bathroom and kitchen will be fitted , with general painting and redecorating. They will also convert the property into four beds.
You might like...
Get practical insights from our lending team from market shifts, to deal strategies. We’ll help you fund smarter, avoid common pitfalls, and stay competitive in a fast-moving property market.
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.
