Sunday, July 10, 2016
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£11.5m refinancing of converted office block secured for complex ownership structure
Silbury provides additional £33 million loan for 292-home Old Kent Road residential scheme, taking total facility to £101 million
Construction starts on £140m 24-storey Battersea tower
Shawbrook Bank arranged a £7.5 million short-term loan and it completed in six working days.
The funds were used by a property developer to refinance away from their existing lender. The debt was secured against seven residential units in Old Street, London.
Emma Cox, Sales Director for Shawbrook Commercial, explained: “Considering the size of the loan and speed with which it completed, we are pleased with this reflection of our lending appetite post-EU referendum.
“Whatever the future challenges, we remain committed to the professional investor and landlord via our dedicated network of broker partners, and we are confident in this market’s ability to continue to grow.”
For help to secure development finance call Trinity Specialist Finance on 020 7016 6151.
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