Redwood Bank provides £403,410 for Liverpool mixed-use property
The £565,000 property comprises four residential flats above a commercial unit occupied by the customer's own business.
Redwood Bank has completed a £403,410 loan for a property investor to support a mixed-use asset in Liverpool.
The £565,000 property comprises four residential flats above a commercial unit occupied by the customer’s own business.
The transaction required the property investment and trading business to be brought together under one structure, with the customer acting as both landlord and occupier.
As no rent was being paid on the owner-occupied commercial unit, Redwood worked with the customer and broker White Rose Finance Group to establish a market rental figure and formalise the relationship between the property owner and trading business.
A lease was subsequently put in place between the two, allowing the transaction to adopt an operating company/property company (OpCo/PropCo) structure.
The loan completed at 71.4% loan-to-value (LTV) in under four months, with rental income used as the main component of affordability.
Jane Hand (pictured), regional development manager for the North and Midlands at Redwood Bank, said: “This was a great example of how OpCo/PropCo structuring and semi-commercial lending can sit alongside each other in more complex cases.
“By taking the time to fully understand the trading business and property elements of the deal and the customer’s long-term objectives, we were able to deliver a solution that supported both their immediate needs and future investment plans.”
David Fine, client and projects manager at White Rose Finance Group, added: “Redwood’s personal approach and willingness to look at the detail of a case is what sets them apart.
“The team took the time to understand the structure and worked collaboratively throughout, which gave us and the customer confidence from the outset.
“Having direct access to experienced decision-makers made a real difference in getting the deal over the line.”
Related
BCRS Business Loans provides six-figure funding for Qube Environmental acquisition
HBI Capital completes £755,000 Somerset hotel refinance through Brickflow
StreamBank completes £1.5m bridge to support shopping centre acquisition
Aspen provides £1.9m refurbishment facility for Bath conversion
Inspired Lending provides £822,000 developer exit facility for South East London scheme
Maslow Capital completes £136.8m facility for Vita Group
FRP arranges £47.2m office refinancing facility
Rely helps first-time landlord secure funding after previous lender decline
WSP Capital completes £490,000 auction rescue in four days
Afin Bank appoints Kimberley Bennett as mortgage underwriter
Investec Real Estate provides £21.34m loan for Belfast student scheme
