The deal fell through when the building’s largest tenant exercised a break option effective at the end of 2025, leading to a 70% reduction in rental income.
The borrower, a Jersey-based SPV, required a 12-month bridging facility to allow time to re-let the vacant space and stabilise income.
CSBF provided the facility without external valuations, personal guarantees or exit fees, completing in 12 working days to prevent default and avoid penalty fees from the outgoing lender.
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Jourdan Rajwan, director at CSBF (pictured above), commented: “Being property people ourselves allows us to carry out valuations in-house and keep things moving quickly, particularly with the support of our in-house legal team.
“Many lenders are unable to underwrite a property with vacancy or capital expenditure, but we work directly with our borrowers to understand their vision first-hand.
“Personally inspecting the asset gives us a real advantage in underwriting and structuring each facility to best support our clients.”
This transaction is one of two £4.5m loans recently completed by CSBF involving complex ownership structures.
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