Given the prime location of the retail unit, the strength of the tenant and the experience of the repeat borrower, our team was able to deliver a rate of 0.79% per month at a 67% LTV. The client's onward ambitions for the premises included the construction of an additional story and the negotiation of new leases with new tenants. As such, we engaged the borrower in several discussions to ensure that, on a 12 month loan, a timely exit could be achieved.
The client required a £3.89 million loan to purchase a large commercial space in Surrey, England, with a blue chip tenant in situ.
The case, although ambitious, showcases the potential of our commercial bridging loan product to support the retail sector. Coming out of the pandemic, it's great to assist in the revitalisation of this market. I'm keen to continue supporting this borrower and am interested to see how this particular space will benefit from their exciting development plans.