Case Study: Funding for a mixed-use Grade II listed part-completed development awaiting planning consent in Kent.

Our client owned the Freehold of a mixed-use Grade II listed property in Kent. The Ground Floor commercial element had been sold off on a long-leasehold and was being used as a convenience store. Works had started to convert the uppers to 3 flats after the client secured planning consent. However, he still awaited Listed Building consent to carry out repair works on the roof.

Effectively then, he had a part-completed Development of a Grade II listed mixed-use property, awaiting further consents.

We presented the following funding solution:

65% LTV

£391k gross loan

2% Arrangement Fee

Interest at 0.64% pcm

No Exit Fees

No Admin Fees, no Application Fees and no additional Broker Fees.

No lender monitoring required due to depth of experience.

12 months term

In addition, a further advance was agreed in principle, to cover the cost of works in arrears, when Listed Building consent was granted.

Going forward, the lender, acknowledging the strong profile of the borrower and their depth of experience, agreed to rely on photographs and invoices to release further funds, so no formal monitoring was required.

The client is now on with the works and will retain the property for long-term investment purposes.

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