SDKA delivers £200,000 bridge for Grade II conversion

SDKA has finalised a £200,000 bridge to ensure the successful redevelopment of a Grade II Listed former school.

The collection of historic buildings in Leicester had stood derelict for 20 years before the programme to create six detached offices began. Having already invested significant personal funds, the developer required additional capital to complete the project.

After a longstanding refinance application with a major high street bank stalled, SDKA stepped in and agreed to lend against the whole site with a bridge.

The bridge into a Small Self-Administered Scheme (SSAS) pension fund was completed in just 15 working days and was finalised at 1.1% per month over eight months. Exit will be achieved through further refinance.

Kunal Mehta, managing director of SDKA, said: “Despite the complexities associated with a Grade II listed redevelopment, the pension fund borrowing structure and commercial asset class, our team moved swiftly from application to completion to ensure no delays in the redevelopment process.”