PR

Inspired provides £400,000 for Devon commercial property refurb




Inspired Lending has provided a £400,000 funding facility to support the refurbishment of a vacant commercial property located on a Devon high street.

The borrower, a direct applicant, had secured a new tenancy agreement with a prominent national convenience store operator — the property required substantial refurbishment works, amounting to £400,000, to meet the terms of the lease.

The loan was secured by way of a first charge over the commercial building, allowing the borrower to carry out essential refurbishment works ahead of the lease’s completion. Once the tenant is in place, the loan will be repaid through term refinancing.

The funding was structured to be delivered in tranches, facilitating the phased completion of the project.


Commenting on the deal, Gavin Diamond, CEO at Inspired Lending, said: “There were several elements to navigate in this deal, but it was evident from the start that the borrower was an experienced property professional with a clear and well-structured vision for the project.

“This has already been validated post-completion, as the asset’s transformation has progressed in line with their plans, demonstrating their expertise and commitment to achieving their goal in the minimum time possible.

“By funding the refurbishment in tranches, we have tailored our support to match the borrower’s requirements for the project.”

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