Funding for the Purchase of Listed Building Below Market Value
A property developer had identified a fantastic opportunity to purchase a large, listed residential home with impressive views over the Clyde Estuary on the West Coast of Scotland.
We were approached by Jason at Developer Money Market to assist the client to purchase the property in order to fully renovate and add to his BTL portfolio. The property was a former YMCA Youth Hostel and had been left vacant for some years. The client had negotiated a fantastic purchase price at a significant discount. As the property was such a lucrative buying opportunity, the client was keen to complete quickly.
Developer Money Market’s portal had intelligently identified Lowry Capital as the perfect lender for this transaction due to the location and building type. Due to the discount negotiated, we were able to provide a loan of 82% of the purchase price. It is expected that after a comprehensive refurbishment, the property will be worth over £1m which will conservatively generate a profit of over £300,000.