Office to Residential
- Acquisition facility required for an office building with c. 2 years of income remaining.
- The client’s intention is to convert the property into residential accommodation under Permitted Development.
- A complex ownership structure with a number of offshore entities was involved.
- We were tasked to structure a facility with a loan term in line with the current lease expiry so the lender needed to understand and take a view on the conversion potential.
- A competitively priced facility, at 65% LTV on a medium term basis was arranged within a tight timescale.