Commercial Finance Brokers (UK) (CFBUK) was approached by a client that owned a warehouse of lock-up storage units which was located in the middle of residential garage blocks.

The client had agreed to purchase an access road and more adjacent garaging as well as obtaining planning permission to demolish the warehouse and some garages to build 3 luxury houses.

The client sought finance to purchase the new garages £425,000, fund demolition £154,000 and finance the build £1,400,000 – a total of £2,079,000.

CFBUK rose to this challenge and helped the client to raise the funds required using their expertise and knowledge of the market.

A lender was found at acceptable terms to fund the project at Bank Base + 3.25% with interest rolled until full value was extracted from the development.