"Given the tight deadlines imposed by the NHS, getting this deal completed in 6.5 weeks truly is a testament to the team's agility and the strength of our relationship with the developer."
- Steve Larkin - LendInvest
LendInvest has closed a £3.51m development finance facility to convert a vacant former NHS building in Bromley into 16 residential flats, completing the deal in just 6.5 weeks to meet a strict contractual deadline set by the NHS.
The project involves transforming the existing structure on the former NHS site into modern residential units, adding much-needed housing stock while bringing an underutilised asset back into use. The facility was structured at 65% LTGDV over an 18-month term, with a planned exit through individual unit sales.
Speed was central to the transaction. Moving from initial application to full completion in 6.5 weeks, the deal required LendInvest to navigate a compressed timeline without compromising on due diligence or certainty of funding.
"At LendInvest, we pride ourselves on our ability to meet the ambitious timelines of our borrowers," said Steve Larkin, managing director for development at LendInvest.
"Given the tight deadlines imposed by the NHS, getting this deal completed in 6.5 weeks truly is a testament to the team's agility and the strength of our relationship with the developer.
"Converting vacant spaces into high-quality homes is a vital part of tackling the UK's housing shortage. We're thrilled to work with this developer again, and the team and I stand ready to provide the technical expertise and funding certainty that SME developers in England, Scotland and Wales need to thrive."
The facility marks the second development loan LendInvest has provided to the same developer, reflecting the lender's focus on building long-term relationships with experienced SME builders. LendInvest operates across England, Scotland, and Wales, positioning itself as a repeat lending partner for developers requiring speed and certainty on complex transactions.
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