We successfully arranged a £8.19 million bridging loan to support the acquisition of a fully let, mixed-use leisure and retail complex in North London.
The client, a high-net-worth individual acquiring via a limited company, required a swift and strategic financing solution to meet a tight completion deadline and unlock the future redevelopment potential of the site.
The Client:
Our client is an experienced high-net-worth investor operating through a limited company structure. With a long-term vision and a strong understanding of asset repositioning, the client sought to capitalise on the site’s current rental income while working towards a significant redevelopment scheme.
The Situation:
The asset comprised 61,700 sq. ft of leisure and retail space and was producing an annual rent of approximately £920,000. While fully let at the point of purchase, several tenants were holding over.
The anchor lease which accounted for over a third of the rent was due to expire in 2029. The client’s strategy was to align all other leases to this date, thereby creating a clear path to vacant possession. Vacant possession at that point would allow for a comprehensive residential redevelopment, targeting a projected GDV of £173.5 million.
Our Solution:
Given the short timeframe, only four weeks between exchange and completion, we initially explored term lending but quickly pivoted to a bridging facility to meet the deadline. We arranged an £8.19 million, 12-month bridging loan, completing on time and securing the asset for the client.
Simultaneously, we sourced an exit strategy through a term lender, with the refinance offer made conditional only upon the successful renewal of the key leases. This approach gave the client the certainty needed to proceed with both the acquisition and the long-term planning application, while allowing them to benefit from continued rental income.
Benefits & Results:
The bridging facility enabled the client to complete the acquisition without delay and move forward confidently with their value-add strategy. By securing a forward-looking refinance offer upfront, we ensured the client had a clear path to a longer-term funding solution post-lease renewal.
This structure also allowed time to align the leases to the 2029 expiry date, ultimately enhancing the site's redevelopment potential and long-term value.
