Gavin Seaholme

Shawbrook completes £7m commercial investment loan

Shawbrook Bank has delivered a £5m refinance and £2m capital raise within two working days of the offer being made.

The bank’s property finance division was approached by its long-term strategic partner, Pure Funding Solutions, for a £7m commercial investment facility.

The client required the funding to refinance a large commercial property made up of 83 self-contained units, all fully let on short-term leases.

The borrower also wanted to purchase another large commercial asset, with plans to convert it into a multi-let site.

The specialist lender agreed the £7m loan on a 10-year term at 75% LTV.

Shawbrook’s offer was made on the morning of Friday 12th February, with the case completed by the afternoon of Monday 15th.

Gavin Seaholme, head of sales at Shawbrook’s property finance division (pictured above), said: “A complex case like this calls for an experienced team of specialists. 

“Working seamlessly with our expert strategic partner, we were able to gain a deep understanding of the client’s needs and end goals, which was crucial to the success of this case. 

“This existing Shawbrook customer has a proven operating model which has been successful throughout the pandemic, so we are happy to support them on their continued investment journey.

“While much of the commercial property sector faces challenges, this is a clear example of how there are still opportunities out there in the market.”

Danny Churchill, owner of Pure Funding Solutions, commented: “This remarkable achievement, especially in the current climate, is an outstanding effort by all involved throughout the journey of this application. 

“This shows that when all parties are prepared to work together and trust in each other’s ability, great things can happen.”

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