Inspired Lending has completed a £635,000 short-term facility to refinance a mixed-use property in Leicester following the completion of extensive conversion works.
The two-storey building, previously a factory, has been redeveloped to include two ground-floor retail units and eight self-contained flats above.
The facility refinanced the borrower’s original loan, which funded the project, while also raising additional capital ahead of letting the units.
The borrower now plans to fully let both the residential and commercial elements before transitioning to a longer-term commercial mortgage.
Inspired Lending structured the facility to support that transition, reflecting the completed value and providing flexibility.
Gavin Diamond, CEO of Inspired Lending, said: “This case reflects a familiar scenario. One where a borrower has successfully completed a project and now needs a clean, simple way to move onto the next phase.
“Our role was to step in quickly with a structured refinance that gives them some cash flow and breathing space to let the property and secure a commercial term loan.
“It’s exactly the kind of pragmatic lending we aim to deliver: fast, flexible and rooted in the real value of the asset.”
The lender, which provides short-term funding for residential and mixed-use property projects, said the deal adds to its experience in semi-commercial and mixed-use schemes.
Other recent completions include an £800,000 finish-and-exit facility in Devon and a £2m conversion project in Nottingham.
