108575 - £155,000 bridging loan for a basement retail space in Chislehurst, London

TAB provided a £155,000 bridging loan for 12 months, secured against a commercial property in Chislehurst, London, with an LTV of 58.05%.

The property is a lower-ground basement unit. The space features a combination of original and modern construction elements, with the retail space still in a partially finished state. Significant work is required to complete the project, and a schedule of works has been provided.

TAB quickly facilitated the loan, ensuring the borrower could proceed with their plans to complete the property’s refurbishment. The loan was processed efficiently, with the necessary support to meet the client’s requirements within the agreed timeframe.

The funds will be used to refinance the existing charge and finish the remaining works needed to complete the property.

The borrower’s exit strategy is to refinance the property once all works are complete.