"By working collaboratively and focusing on the fundamentals, we were able to structure a facility that made the project stack up while ensuring it remained deliverable"
- George Poole - Avamore Capital
Specialist lender Avamore Capital has announced that it has provided a £944k refurbishment loan, highlighting its focus on structured refurbishment projects and its ability to manage complexity through a solutions-driven approach. The transaction reflects the lender’s ongoing commitment to supporting borrowers while upholding robust underwriting standards and fostering collaboration.
The deal involved detailed cost management to ensure the project remained viable. Build costs were carefully assessed and value engineered, with the borrower agreeing to inject additional capital to strengthen the overall structure. This approach kept the refurbishment financially feasible while maintaining a clear path to completion.
Although the borrower had limited direct development experience, Avamore adopted a proactive stance, working closely to source and appoint an experienced contractor. This not only increased confidence in project delivery but also reassured underwriters that the refurbishment was backed by appropriate on-the-ground expertise.
George Poole, relationship manager at Avamore Capital (pictured), commented, “This deal is a great example of how we partner with borrowers to find innovative and tailored solutions. By working collaboratively and focusing on the fundamentals, we were able to structure a facility that made the project stack up while ensuring it remained deliverable.”
Spencer King, underwriter at Avamore Capital, added, “There were complexities around experience and cost control, but through detailed due diligence and a structured approach, we were able to get comfortable with the risk. Supporting borrowers through these challenges is exactly where we add value.”
