Inspired Lending has provided a £2.4m bridging facility to support the acquisition of a vacant commercial building on an industrial site in Essex.
The borrower purchased the site for £4.95m through their business’ pension fund, with plans to relocate their wider business operations to the premises before refinancing onto a long-term facility to repay the bridging loan.
To facilitate a swift transaction, Inspired Lending utilised a desktop valuation, reducing the time required for assessment.
This enabled the borrower to complete the purchase quickly, ensuring they could seize the opportunity before other interested parties.
Gavin Diamond (pictured), CEO of Inspired Lending, said: “This transaction demonstrates our ability to move quickly and structure solutions that align with our borrowers’ objectives.
“By using a desktop valuation, we were able to reduce costs and expedite the process, enabling our client to complete their purchase ahead of competing bidders.
“We take pride in delivering flexible, responsive funding that empowers businesses to capitalise on strategic property acquisitions.
“In this case, our ability to act decisively helped the borrower secure an asset that will play a key role in their long-term business plans.”
