Recognise Bank has completed a £846,000 bridging loan in West London for the development of a business operations and trading facilities site.
The site, which also holds planning permission for residential and commercial space, will enable the Shah Group of companies to relocate and expand its building and construction trading operations, following internal refurbishment.
It will act as the new headquarters for Shah Design and Build, and new showrooms for Shah Kitchens and Bedrooms.
Located in Hayes, West London, Recognise Bank were able to leverage a 70% loan-to-value (LTV) on the derelict commercial building.
This is in addition to structuring the loan with a quick drawn down, just before the 2024 Christmas period.
Recognise Bank’s business development manager (BDM) team, led by Paul Bagan and lending manager, Stephen Faulkner, utilised their expertise in OPCO/PROPCO transactions to support the clients winning bid.
Bagan said: “We are delighted to have established a fantastic new working relationship Shah Silverdale.
“Recognise Bank are committed to supporting SMEs across the UK in their growth plans, this loan is a great reflection of that.
“We look forward to partnering with Jagbir and the Shah Silverdale team again in the future.”
Borrower, Jagbir Singh Dhillon of the Shah Group, added: “It has been a pleasure to work with Paul, Stephen and the Recognise lending team.
“Their invaluable support during the loan process filled us with great confidence in their ability to deliver to the specific demands of the deal.
“We greatly appreciate their speed, communication and flexible approach, in particular given the added difficulties around the Christmas period.
“We look forward to building on our relationship with them in the future.”
