Development finance lender Atelier has announced the completion of a £7.8m development loan, structured at 66% LTV, to fund the acquisition and conversion of an existing office building in Bristol.
Atelier will provide a 17-month development facility for the office-to-residential conversion, harnessing the site’s development potential by converting an existing office building under Permitted Development rights.
Working with a returning borrower who has a unique and committed understanding of the South West market.
Rav Kudhail (pictured), Lending Director at Atelier, commented, “At Atelier, we work with experienced developers who have a deep understanding of their local markets. We’re pleased to have worked with a returning borrower to complete this loan.”
