We approved a loan required to assist with the purchase of a commercial investment property currently occupied by local government.
• £1.5m loan
• Office to flat refurbishment
• Converted into 25-year commercial loan
Before completion of the deal, we were advised that the current tenants within the building had given notice and would be vacated before completion. The client had the relevant planning permission to develop the commercial property into separate self-contained residential flats.
To find out more about our property finance, please contact our relationship management team.