Hope Capital delivers extensive loan for iconic building in Liverpool

Facility

£2,100,000

Loan Term

12 months

LTV

60%

Situation:

A broker who we work with on a regular basis recently approached us with an exciting opportunity to assist an investor who was looking to purchase a detached Grade 1 listed banking hall, which was formally owned and occupied by the Bank of England. The iconic building features four stories and is located in a prominent location in Liverpool.

 

The client has an extensive portfolio, having worked on several other development projects in the local area, and knew that the best option to acquire such a significant loan quickly would be through a bridging lender.

 

Nevertheless, this was a challenging, complex deal, as the property was a listed building, which will undergo extensive refurbishment and development. Therefore, the borrower required an experienced, trusted lender, with a desire to structure the case to make the purchase possible and deliver a smooth process on time with a solution that enables the development of the property. Bearing these challenges in mind, Hope Capital was the broker’s first choice, go to lender.

Solution:

As a result of our stakeholder relationships and the confidence in structuring the loan to achieve the borrower’s exit strategy, Hope Capital were more than happy to step in and lend on the property.

 

The borrower required just over £2m to complete the purchase. We were able to provide this at 60% LTV for a 12-month loan term. This enabled the client to purchase the security and then move forward with transforming the previous banking hall into its new development.

Result:

Now the client has successfully purchased the investment property, they can look into refinancing onto a new loan with a High Street Bank. This therefore means they can pay back the existing finance facility they have with us, while also proceed with their development plans.

 

This was a key example of why investors use bridging loans – they provide a quick and flexible initial solution and then can be repaid through a traditional method, e.g. a mortgage.

 

Being located in Liverpool ourselves, we were delighted to assist with the purchase of this iconic building and look forward to witnessing the development come to life!

“When I was presented with this case, I knew straight away that the best lender for the job would be Hope Capital. Having worked with the team on many occasions, I felt fully confident that they would be able to find a solution which would ensure this investment opportunity could be achieved. It’s an iconic property in the heart of Liverpool and I’m looking forward to seeing what happens with the property in the months ahead.”

Emily Crowe

Emily Crowe

Emily is responsible for developing, implementing and managing the positive image of Hope Capital, as well as communicating key messages to stakeholders within the industry.
For all press enquiries, please contact Emily directly on 0151 522 2582 or via email.

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