Project Description

  • SOUTH EAST

  • 1,100,000

  • 6 months

CHALLENGE

  • To assist a Borrower, the owner of a substantial unencumbered London hotel, and facilitate the purchase an additional property in the city
  • As the security was the Borrower’s operating five storey mid-terraced hotel, and being a responsible lender, we had to be satisfied that the hotel was amongst other things planning and fire regulations compliant
  • From our local search, it transpired that there was historical enforcement action dating back quite some time which was still showing as open
  • The finance needed to be turned around within a short-time frame

APPROACH

  • We worked with the Borrower to establish a solution, through the provision of legal indemnity insurance, to cover both the Borrower and our Investors, in the event of any loss of value on the hotel property resulting from commencement of enforcement
  • Managed the complexities of security within a Grade II listed building, in addition to liaising with an off-shore Borrower

RESULT

  • The finance was agreed and completed to schedule which enabled the Borrower to┬ápurchase the additional property
  • Purchased as a short-term investment opportunity being┬áredeveloped and then sold to enable the redemption of all outstanding