Office to mixed-use conversion

Earlier this year, Lendhub completed a Commercial Bridge facility for a repeat borrower on a large office building in Manchester

Our team swiftly provided a £1.43m, 6-month facility at 65% LTV for the 31,000sqft property, comprising 5 floors of office space above a ground floor carpark.

Last year we provided a £1.26m bridging loan on the neighbouring site, now redeemed, to release equity for a deposit on another scheme.

Originally, the borrowers had hoped to convert the office building into a hotel but were refused planning.

Thankfully, our facility has enabled the client to release funds to put back into their company as working capital, while simultaneously providing extra time to work up planning to convert both sites into a mixed-use scheme.

We look forward to seeing how the clients will transform the property, and we are proud to have assisted them in the interim as they explore their options.

Well done to our team, Asim, Hattie and Tom, who navigated a number of challenges and intricacies in this case but still managed to get our client the financing they were looking for.