"This was a great example of what can be achieved when lenders and brokers share the same goal"
- Gavin Diamond - Inspired Lending
Inspired Lending has provided a £2,600,000 facility to support the off-market acquisition and conversion of a former commercial building in Shrewsbury. The transaction highlights the value of lender and broker collaboration in delivering complex and time-sensitive property deals.
The deal was introduced by Ryan Garbett of ERG Finance. The borrower agreed on a purchase price of £2,250,000 for the property and immediately pursued a planning strategy. Planning permission was obtained to convert the main building into a large, distinctive dwelling, alongside three new detached executive homes in the surrounding grounds. Conversion works on the main house, then commenced under licence from the seller, allowing the borrower to capture a significant uplift in value between exchange and completion.
A net advance of £2,100,000 was released on day one to complete the purchase and continue the works. An additional £200,000 facility is available in tranches to complete the conversion of the main house.
The case required coordinated effort from all parties. A pragmatic lending team, an experienced broker, and solicitors worked to tight deadlines to achieve the desired outcome.
Inspired Lending specialises in short-term funding for residential and mixed-use property projects, including acquisition, refurbishment, conversion, development exit, and capital raising. The lender recently completed a £380,000 loan for a limited company borrower in Bedfordshire, enabling an urgent buyout of a partner’s shares in a parcel of land within two weeks.
“This was a great example of what can be achieved when lenders and brokers share the same goal," explained Gavin Diamond, CEO of Inspired Lending (pictured). "The borrower had a clear strategy but needed us to be able to act decisively and with an understanding of planning gain potential. By working closely with ERG Finance, we were able to take a commercial view and support a well-executed strategy that delivered significant uplift in value. We're proud to have supported another strong outcome for a client with a vision.”
Ryan Garbett, director at ERG Finance, added, “Deals of this scale and complexity only succeed when everyone pulls in the same direction. This deal was far from straightforward, and only possible thanks to a pragmatic lender, a valuer experienced in development and planning, and solicitors who worked tirelessly under tight timeframes. It is a fantastic outcome for all involved, and another example of ERG Finance supporting clients with complex, high-value opportunities. Inspired Lending’s ability to act quickly and decisively made a real difference, and we are pleased to have delivered such a strong result for our client.”
