Hope Capital

Hope Capital lends £1.1m for Lancaster pub conversion

Hope Capital and Charles Louis Commercial Finance have completed a £1.1m commercial loan for the conversion of a former pub on the outskirts of Lancaster.

The facility — agreed at 58.5% LTV over a 12-month loan — will allow the client to purchase the premises and complete the heavy refurbishment works needed to transform the pub into eight self-contained apartments, for which planning permission was already acquired.

The borrower will exit the facility by refinancing to a longer-term BTL mortgage once the renovation works are completed and tenants are in place.

Roz Cawood, director of sales at Hope Capital (pictured above), said: “This was a great investment opportunity for the client, which we were delighted to assist with. 

“At Hope Capital, we have over 10 years of experience successfully supporting a significant number of borrowers in achieving their investment plans, especially those who are looking to undertake refurbishment works.  

“Having the support from the team at Charles Louis Commercial Finance was key in ensuring we could deliver for the client. 

“This is a fantastic example of how having a great relationship between lender and broker can ensure that the outcome the client is looking for is achieved.”

Lee Robinson, bridging and development finance specialist at Charles Louis Commercial Finance, added: “Working with a lender like Hope Capital, which provided speed, flexibility and transparency throughout the entire deal process, was really refreshing. 

“The teamwork approach between all parties was instrumental in ensuring this deal could be delivered.”

Leave a comment