£8.5 million bridging loan to release equity after complex planning play

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Location: Eastbourne

Loan amount: £8.5 million

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A property investor approached us for an equity release bridging loan for a complex site in Eastbourne. 

After acquiring the property – a vacant prep school – without planning, the investors obtained change of use and planning for 52 residential apartments. 

They wanted the bridging loan to release equity as they sought a developer to purchase the site. 

This deal had several challenges that needed to be overcome as the site was owned by multiple shareholders.

The school’s original planning use made the deal complex but the team were able to overcome it to deliver the funding in a timely manner for the borrower. 

Tom Savill, Asset Finance Adviser at Arc & Co who introduced the deal, said: “It was great working with LendInvest on this deal. They were very competent, understanding the complex nature of the asset as well as the ownership structure. I look forward to working with them again in the future.” 

Gary Clark, Business Development Manager in the Structured Property Finance team, said the deal had unique points to it. 

“With the input and support from Tom, we were able to quickly deal with any issues in a timely manner. I would like to thank Tom for his professionalism and support, aiding us to complete this deal in the timescales required.” 

See what you can secure for your next project with our bridging finance calculators.