Black & White Bridging delivers £2m loan to support luxury Cheshire conversion

Black & White Bridging has completed a £2m bridging loan to refinance and complete the conversion of a former public house in Cheshire into a luxury holiday let.

The borrower, an experienced property developer and landlord who also works as an IT consultant, had already undertaken the extensive conversion of the former pub into a premium residential property.

With the main dwelling complete and occupied by a tenant, the borrower required funding to repay existing debt and complete the refurbishment, including a separate annexe, allowing the entire property to operate as a holiday let.

With tight completion deadlines and the need to restructure existing borrowing while releasing additional capital, the transaction required a quick and bespoke underwriting approach.

Working closely with the broker and their borrower, relationship director Matt Yates (pictured above) tailored a £2m facility to refinance the existing debt and provide the capital needed to complete the remaining works.

Matt commented: “Projects like this demonstrate why specialist lending exists.

“Every transaction has its own challenges, and in this case it wasn’t just about refinancing an existing facility.

“It was about understanding the wider vision for the asset and structuring a solution that gave the borrower the flexibility and certainty they needed to complete the project.

“The combination of tight timescales, debt restructuring and the evolving nature of the property meant a standard lending approach simply wouldn't have delivered the right outcome.

“By working collaboratively with everyone involved, we were able to move quickly and provide a bespoke facility that kept the project on track.”

Damien Druce, COO at Black & White Bridging, added: “These are the types of deals we enjoy supporting.

“Rather than relying on a tick-box approach, we take the time to understand the borrower, the asset and the exit strategy.

“That enables us to structure facilities around the opportunity, not simply the criteria, and ultimately deliver the certainty our brokers and their borrowers need.”