The loan facility was arranged to refinance existing debt secured against a prime multi-let office building located in Manchester city centre, while providing the necessary stability for ongoing asset management.
The borrower, a family office property asset manager operates as part of a syndicate of experienced investors.
The property, a Grade A freehold period building features a diverse tenant mix across office and retail spaces and has a Grade B EPC rating — the property’s unit sizes are under 5,000 sq ft.
The transaction was introduced by Paul Wilcox of GDP Funding, a central Manchester-based brokerage, and involved a tailored funding solution including a 68% LTV interest-only loan facility over a five-year term.
- B&C Awards 2024: The Video
- LHV makes three new lending director appointments
- LHV Bank funds £3.6m commercial investment loan
Michael Thompson, lending director at LHV Bank (pictured above), commented: “We are proud to have partnered with GDP Funding to support this refinancing for a highly regarded family office.
“The property’s excellent location and the borrower’s proven asset management expertise made this a strong proposal.
“We’re excited to see this property continue to deliver strong returns under experienced management.”
Paul Wilcox, director at GDP Funding, added: “This was a vital refinancing for our client, and it has been an absolute pleasure working alongside LHV Bank to deliver such a well-tailored funding solution.
“Their collaborative approach, combined with a deep understanding of the commercial property market, made the entire process seamless.
“Together, we’ve enabled our client to focus on unlocking the property’s full potential.”
Leave a comment