Inspired Lending has provided a £2,600,000 facility to support the off-market acquisition and conversion of a former commercial building in Shrewsbury.
The deal was introduced by Ryan Garbett of ERG Finance and demonstrates the value of lender and broker collaboration in delivering complex, time-sensitive transactions.
The borrower agreed a purchase price of £2,250,000 for the property and pursued a planning strategy shortly after exchange. He obtained planning permission to convert the main building into a large, unique dwelling, along with three new detached executive homes in the surrounding grounds. The borrower then commenced conversion works of the main house under a licence from the seller. This helped the borrower to unlock a significant increase in value between exchange and completion.
A net advance of £2,100,000 was released on day one to complete the purchase and continue with works, with an additional £200,000 facility available in tranches to complete the conversion of the main house.
The case required a joined-up approach from all parties, with a pragmatic lending team, an experienced broker, and solicitors working to tight deadlines to achieve the desired outcome.
Inspired Lending provides short-term funding for residential and mixed-use property projects, including acquisition, refurbishment, conversion, development exit and capital raising. They recently completed a £380,000 loan for a limited company borrower in Bedfordshire, enabling the urgent buy out of their partner’s shares in a parcel of land within a two-week deadline.
Gavin Diamond, CEO of Inspired Lending, said:
“This was a great example of what can be achieved when lenders and brokers share the same goal. The borrower had a clear strategy but needed us to be able to act decisively and with an understanding of planning gain potential.
By working closely with ERG Finance, we were able to take a commercial view and support a well-executed strategy that delivered significant uplift in value. We’re proud to have supported another strong outcome for a client with a vision.”
Ryan Garbett, Director at ERG Finance, added:
“Deals of this scale and complexity only succeed when everyone pulls in the same direction. This deal was far from straightforward, and only possible thanks to a pragmatic lender, a valuer experienced in development and planning, and solicitors who worked tirelessly under tight timeframes.
It is a fantastic outcome for all involved, and another example of ERG Finance supporting clients with complex, high-value opportunities. Inspired Lending’s ability to act quickly and decisively made a real difference, and we are pleased to have delivered such a strong result for our client.”
For more information, visit: https://inspiredlending.co.uk
![[UNS] tax](https://ifamagazine.com/wp-content/uploads/wordpress-popular-posts/788955-featured-300x200.webp)
