Alternative Bridging Corporation has completed a £1.2m semi-commercial bridging loan to support the purchase of a South East London property by its existing tenant.
The tenant, operating as a business within the semi-commercial property, secured an opportunity to purchase the building from their landlord for £1.5m, significantly below the £2m market valuation.
Facing a tight deadline to take advantage of the discounted price, the tenant required a quick financial solution to complete the transaction.
Alternative Bridging provided a £1.2m semi-commercial bridging loan, enabling the tenant to meet the seller’s deadline.
The loan was completed within 20 working days.
Taylor Osunsedo (pictured), business development manager (BDM) at Alternative Bridging Corporation, said: “This is the type of case that exhibits our ability to deliver tailored and timely solutions that meet the needs of our clients directly.
“The co-operation between all parties involved was exemplary, and we’re delighted to have supported the tenant in securing a fantastic opportunity to purchase their premises at a substantial discount.
“We take pride in enabling our clients to achieve their property goals, no matter how complex or time sensitive.”
