Inspired Lending has finalised a £635,000 facility to refinance a vacant semi-commercial property in Leicester, following the completion of major conversion works. The short-term loan supports both the repayment of an existing development facility and a capital raise to assist the borrower in preparing the property for letting.
The property, a former two-storey factory, has been redeveloped into a mixed-use building comprising two ground-floor retail units and eight self-contained flats on the upper floor. The borrower now intends to let both the residential and commercial elements before transitioning to a longer-term commercial mortgage once rental income is secured.
The loan was structured to reflect the property's updated condition and the borrower’s strategy, providing a clear route from development through to investment. The refinance facility offers additional working capital to support the letting phase.
"This case reflects a familiar scenario," said Gavin Diamond, CEO of Inspired Lending. "One where a borrower has successfully completed a project and now needs a clean, simple way to move onto the next phase. Our role was to step in quickly with a structured refinance that gives them some cash flow and breathing space to let the property and secure a commercial term loan."
He continued, "It’s exactly the kind of pragmatic lending we aim to deliver: fast, flexible and rooted in the real value of the asset."
The Leicester deal builds on Inspired Lending’s experience in funding complex semi-commercial and mixed-use properties. Recent transactions include an £800,000 finish-and-exit facility in Devon and a £2 million conversion scheme in Nottingham.
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