Stirling Commercial Bridging Loan

Published by Alternative Bridging Corporation -

• Location - Stirling, Scotland
• Loan Type - Commercial
• Loan Amount - £770,000

Alternative Bridging Corporation recently worked with DMK Finance on the completion of a £770k commercial bridging loan in Scotland to fund the purchase of two industrial buildings, one in Stirling and the other in Falkirk.

The Stirling property is a vacant industrial building that is to be subdivided into three separate units. Once the works have been completed, the units will be occupied by three businesses that are all owned by the borrower. This will provide more useable space for those businesses as well as a cost-saving on the rent they are currently paying.

The Falkirk property is also an industrial building. It is currently subdivided into 11 units, all of which are presently let. This commercial acquisition will allow the borrower to acquire the investment properties, which will be refurbished and modernised. This will provide the potential to renegotiate the leases in place, to increase the yield on the investment.

There were a number of complexities with the Falkirk property, which had a number of existing leases to be reviewed and updated. This included ensuring up-to-date asbestos reports and EPC certificates, which all added to the complexity of the deal.

However, working in collaboration with the broker and the lawyers, Alternative Bridging Corporation was able to overcome the complications and deliver a first charge commercial loan that enabled the client to complete the purchase of the two properties.

This case demonstrated how Alternative Bridging Corporation is able to take a flexible and proactive approach in delivering solutions for clients and highlights the strength of the relationship it has with Synergy Network and its member firms, including DMK Finance.