The 12-month, 73% LTC loan, which took four weeks to completion, was provided to a local developer who plans to add the property to their portfolio of existing residential development schemes.
The loan will allow the borrower to explore multiple options, including applying for PD consent.
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Stephen Benson, partner at Blue Shield Capital, said: “We are delighted to have completed another acquisition loan as we continue to build our loan book.
“Our speed, flexibility and commitment to complete the deal were important to the borrower who needed this certainty from a lender.
“2024 has seen us ramp up our loan book and we remain on track to close £200m of new lending by the year’s end.”
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