Black & White Bridging has completed a £2m bridging finance facility to refinance and complete an ambitious conversion project, transforming a former public house in Cheshire into a luxury holiday let.
The borrower, an experienced property developer and landlord who also works as an IT consultant, had already carried out the extensive conversion of the former pub into a premium residential property.
With the main dwelling complete and occupied by a tenant, the borrower needed funding to repay existing debt and finish the refurbishment, including a separate annexe, allowing the entire property to operate as a deluxe holiday let.
Tight completion deadlines and the need to restructure existing borrowing while releasing additional capital meant the transaction required a quick and bespoke underwriting approach.
Working closely with the broker and their borrower, relationship director Matt Yates tailored a £2m facility to refinance the existing debt and provide the capital needed to complete the remaining works, ensuring the development could continue without interruption.
"Projects like this demonstrate why specialist lending exists. Every transaction has its own challenges, and in this case, it wasn't just about refinancing an existing facility," said Matt Yates, relationship director at Black & White Bridging.
"It was about understanding the wider vision for the asset and structuring a solution that gave the borrower the flexibility and certainty they needed to complete the project."
"The combination of tight timescales, debt restructuring and the evolving nature of the property meant a standard lending approach simply wouldn't have delivered the right outcome," he added.
"By working collaboratively with everyone involved, we were able to move quickly and provide a bespoke facility that kept the project on track."
If you’re exploring bridging or development finance, get in touch and we can connect you with the right lender.
