Inspired Lending has provided a £2.6m facility to support the off-market acquisition and conversion of a former commercial building in Shrewsbury.
The transaction was introduced by Ryan Garbett of ERG Finance and showcases effective collaboration between lender and broker in delivering a complex, time-sensitive deal.
The borrower agreed to purchase the property for £2.25m and subsequently secured planning permission to convert the main building into a large private residence, alongside three new detached executive homes in the grounds.
Conversion works began under licence from the seller before completion, helping to unlock a significant increase in value between exchange and completion.
A net advance of £2.1m was provided on day one to complete the purchase and continue works, with an additional £200,000 facility available in tranches to finish the main house conversion.
The case required close coordination between lender, broker, and solicitors to meet deadlines and deliver the desired outcome.
Gavin Diamond, CEO of Inspired Lending, said: “This was a great example of what can be achieved when lenders and brokers share the same goal.
“The borrower had a clear strategy but needed us to be able to act decisively and with an understanding of planning gain potential.
“By working closely with ERG Finance, we were able to take a commercial view and support a well-executed strategy that delivered significant uplift in value.
“We’re proud to have supported another strong outcome for a client with a vision.”
Ryan Garbett, director at ERG Finance, added: “Deals of this scale and complexity only succeed when everyone pulls in the same direction.
“This deal was far from straightforward, and only possible thanks to a pragmatic lender, a valuer experienced in development and planning, and solicitors who worked tirelessly under tight timeframes.
“It is a fantastic outcome for all involved, and another example of ERG Finance supporting clients with complex, high-value opportunities.
“Inspired Lending’s ability to act quickly and decisively made a real difference, and we are pleased to have delivered such a strong result for our client.”
