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Mixed-use Project in South West London

Posted by Steven_Coogan on July 15, 2016

A client wanted to carry out refurbishment work on three lock-up retail units with a self-contained maisonette above — specifically to convert the upper floors into two flats. We lent £340,000 against a market value of £425,000 (80% LTV) over a 9-month period and released the funds in tranches based on external monthly valuations. Once the renovations were complete, the mixed-use property was put onto the market and quickly sold for £520,000, enabling the client to pay back our loan in January 2015.

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