LHV Bank provided a £7m commercial investment loan for a Manchester-based family office known for managing property assets in the North West.
The loan was for refinancing existing debt on a multi-let office building in Manchester City Centre.
The family office, part of a syndicate of seasoned investors, manages a Grade A freehold period building close to key amenities and transport links, featuring a diverse mix of office and retail tenants.
The deal was introduced by Paul Wilcox of GDP Funding, a local brokerage, and included a tailored interest-only loan facility at 68% loan-to-value (LTV) over a 5-year term.
The building is fully let and generates strong cash flow, with opportunities for rental growth through lease re-gears and future re-lettings.
Its unit sizes, all under 5,000 square foot, aim to cater for Manchester’s ongoing office demand.
Key challenges, such as an upcoming loan expiry and economic uncertainty in the UK’s office market, were managed through LHV Bank’s efficient lending process.
Michael Thompson (pictured), lending director at LHV Bank, said: “We are proud to have partnered with GDP Funding to support this refinancing for a highly regarded family office.
“The property’s excellent location and the borrower’s proven asset management expertise made this a strong proposal.
Thompson added: “This loan reflects LHV Bank’s ethos to provide bespoke solutions that deliver the best outcome for the customer.
“We’re excited to see this property continue to deliver strong returns under experienced management.”
Paul Wilcox, director at GDP Funding, said: “This was a vital refinancing for our client, and it has been an absolute pleasure working alongside LHV Bank to deliver such a well-tailored funding solution.
“Their collaborative approach, combined with a deep understanding of the commercial property market, made the entire process seamless.
“Together, we’ve enabled our client to focus on unlocking the property’s full potential.”
