
Bridging loan for amusement arcade lease extension in Margate
The Scenario
Our client was a developer who had bought a substantial commercial site in Margate at auction in 2016. Comprising of a bowling alley, restaurant, amusement arcade and office it was proving to be a profitable investment, yielding handsome annual rentals.
The private financier who had supplied part of the funding for the auction purchase had requested their funds back. Our client was in the process of refinancing the site to a term deal.
He could offer an attractively low LTV, but the short length of time remaining on the business leases (three to five years) was unacceptable to mortgage lenders. He needed bridging finance on the property while the negotiations to extend the leases were completed.
The Solution
The unconventional nature of the businesses was problematic for some lenders. We managed to obtain terms for a 12-month bridging loan of half a million pounds at an acceptable rate, with no exit fee, allowing our client to repay his private lender and complete the lease extensions, and arrange a commercial mortgage as his exit strategy.
Louis Levine
Finance Executive CeMAP
Bristol
0117 457 7862
Are you looking for a similar type of property finance?
Get in touch today and find out how I can help.
George Abouzolof
Finance Broker
Bristol
0117 403 3444
Do you need help sourcing your own property finance?
I have extensive experience securing UK mortgages for expat clients. Book a free telephone consultation with me at a time to suit you
Bridging Team
Clifton Private Finance
Bristol
0117 959 5094
Are you in need of a similar type of property finance?
Book a free telephone consultation with one of our bridging specialists today and see how we can help you.
Sam Baker
Finance Broker
Cardiff
0117 959 5094
Are you looking for a similar type of property finance?
As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you
Fergus Allen
Finance Broker
Cardiff
0117 959 5094
Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.
Book a free telephone consultation with me at a time to suit you
Jacob Phipps
Finance Broker
Bristol
(+44) 0117 959 5094
Are you looking for a similar type of property finance?
I specialize in helping international clients source residential and investment property finance for UK property. Book a free telephone consultation with me at a time to suit you
Jack Spillane
Finance Broker
Bristol
0117 959 5094
Mathew Phillips
Senior Finance Broker
Bristol
0117 959 5094
Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.
Book a free telephone consultation with me at a time to suit you
Alex Chambers
Senior Finance Broker
Bristol
0117 403 4324
Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.
Book a telephone consultation at a time that suits you:
Luther Yeates
Senior Finance Broker
Bristol
0117 244 5561
Are you looking for a similar type of property finance?
I have extensive experience finding residential and investment property finance for UK and international clients. Book a free telephone consultation with me at a time to suit you.
Sam ONeill
Senior Finance Broker
Bristol
0117 959 5094
Is your situation similar?
I am a bridging finance specialist at Clifton Private Finance. I can find a quick, cost-effective solution for the funding you're looking for. Book a free telephone consultation with me at a time to suit you
Robert Gibb
Senior Finance Broker
Bristol
0117 959 5094
Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.
Book ConsultationAdam Arnott
Associate Director
Bristol
0117 205 0214