• Location
    Kent
  • Loan Type
    Auction / Development Finance
  • Value
    £1,700,000

Development Finance Kent Auction:   Facilitating Seamless Transition from Office to Residential Investment

 

The Issue

In Kent, an existing client of Alternative Bridging who is also an established investor and developer, took an opportunity. The property in question was an auction of a prime office building scheduled for conversion into residential units. Urgent financing was required to secure the auction purchase and begin the conversion process.

 

The Remedy

Alternative Bridging swiftly provided the borrower with an urgent Development Finance loan at a competitive rate, enabling the auction purchase. Additionally, it was agreed to make stage payments to fund the conversion, ensuring seamless progress throughout the project.

 

The Outcome

Upon completion of the conversion, the property seamlessly became a residential investment, with units let on Assured Shorthold Tenancies. Alternative Bridging continued to finance the investment, solidifying our ongoing partnership with the borrower and facilitating their success in navigating the Kent property market. This case exemplifies our commitment to providing timely and tailored financing solutions that empower our clients to achieve their investment objectives efficiently and effectively.

 

Why a Development Loan with Alternative Bridging

At Alternative Bridging Corporation, we offer beneficial loan arrangements for property development projects, emphasising the key benefits of speed, and tailored arrangements. Compared to a traditional bank loan, Alternative Bridging provides more flexibility and faster processing times, enabling developers to pursue projects without delay. A notable advantage is the prompt payment of stage advances during the construction period. Additionally, we offer swift decisions in principle.

Our dedicated in-house team of Asset Managers provides complete support throughout the development process. With their expertise in understanding the difficulties of development loans and overcoming any complexities that may arise, they play an invaluable role. Securing a Development Finance loan requires partnering with an experienced lender. One that is skilled in navigating the details to ensure a seamless and successful process from start to finish.

For more information on Development Finance click here.

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