Holme Finance Bridging Solutions (HFBS) provided the short term funds for the Eastbourne development.
The project involved a large detached property which was purchased for commercial usage, but since then, consent has been secured for conversion into one single residential unit with the intention of converting the property into four executive apartments.
£90,000 was needed to hire the services of an architect to ensure the property could be sold with planning consent in place, and remedial clearing works were carried out on the large expanse of surrounding grounds.
“We had the property valued as it currently stands and an estimate value with planning for conversion into flats,” said Ian Broadbent, Director at HFBS.
“We were confident that even basing our lending decision on a worst-case scenario that the client’s intentions made sense and stacked up financially.
“We were happy to move ahead and support this project to completion.”
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