Development finance lender Atelier has completed a £7.8m development loan to support the acquisition and conversion of an existing office building in Bristol.
The 17-month facility, structured at 66% loan-to-value (LTV), will fund the transformation of the property into residential units under Permitted Development rights, unlocking the site’s redevelopment potential.
The project is being delivered in partnership with a returning borrower who has extensive experience and a strong track record in the South West property market.
Rav Kudhail, lending director at Atelier, said: “At Atelier, we work with experienced developers who have a deep understanding of their local markets.
“We’re pleased to have worked with a returning borrower to complete this loan.”
