Arbuthnot Specialist Finance Limited (ASFL) is pleased to announce it has refinanced a mixed-use property conversion in Ilkley, West Yorkshire for 6 months at a 65% LTV at 0.85% p/m.
The client was working to a tight schedule owing to the demise of a former funder. ASFL were able to step in to support the client with their residential investment product. This provided the client with the valuable time they needed to finish the property and allowed the residential apartments on the first and second floors to match the high standard found throughout the building.
The property is currently vacant, however the ground floor retail units have started to gain interest, with two of the units pre-let to be occupied upon completion.
Yasin Patel, Joint Managing Director at Arbuthnot Specialist Finance, commented:
“The challenge was to empower the client to continue their project with as little disruption as possible to the building schedule. We were able to effectively structure efficient specialist lending products to facilitate the essential growth and development of the site. We are delighted to have provided the finance to allow our client to fully finish their project”.