Below is an update from West One, the Bridging, BTL, Commercial, and Seconds Mortgage lender, that you can access via our specialist mortgage team. Contact our team today for more information.
Announcement
£5.78m facility unlocks £9.2m GDV in Sheffield city centre
West One Development Finance has recently supported an experienced developer with a £5.78m redevelopment facility, unlocking the full potential of a vacant city centre asset in Sheffield.
The scheme will transform a largely vacant six-storey mixed-use building with the addition of:
- 43 residential apartments
- 3 new commercial units
With a GDV of £9.2m and funding structured at 62.82% LTGDV, the facility is aligned to an 18-month term, incorporating both the build phase and sales period.
Crucially, the structure also accommodates off-plan sales during construction, supporting the borrower’s exit strategy and cashflow.
If you’re working with clients on complex redevelopment opportunities, our Development Finance team is ready to help.
Complex Case? West One Is Here To Assist
In a challenging market where reliability and certainty in a lending partner have become even more important to borrowers, West One has the strength and stability to provide bespoke solutions that take the bigger picture into account.
With over 20 years of experience in Bridging Finance, we have the knowledge and skill to offer personalised support and prompt decisions, even on the most challenging cases.
Whether you have a straight-forward, time-sensitive transaction or are navigating a complex bridging case, West One has the know-how to execute when experience, speed, and flexibility is demanded.
Key product criteria:
- Experts in large loans – lending up to £50m
- Semi-Commercial, Commercial, Land, and Residential assets
- England, Wales & Mainland Scotland
- Purchases and Refinances
- Unregulated & Regulated loans, 1st and 2nd charges – cross charges and third party legal charges available
- Up to 24-month term
- Variable and fixed rates from 0.75%
- Typically, no legal undertaking required
With a wide suite of products available to your clients, choosing West One as your trusted partner has never been easier.
Whatever the challenge, they have the expertise find a tailored solution.