Today was the inspection with one of our borrowers – an experienced property developer in London, and we are very pleased that the project has been delivered on time. Not only that, but the quality of the works is outstanding. (See photos below)
We have underwritten a loan of £450k against the security to allow the developer to change the use of the property from office to residential and to release equity to be used for the acquisition of another asset.
Considering the location and the quality of the asset, we are confident that the developer will be able to sell the property at the expected valuation.
The property is available for sale via Cluttons.
We look forward to working with other experienced property developers.
Front of the building