LendInvest Secures £3.51 Million Facility for Former NHS Site Conversion

8 June, London– LendInvest Mortgages (LSE: LINV), one of the UK’s leading asset managers for property finance, has announced the closing of a £3.51 million development finance facility to transform a vacant building into a new residential community.

The project, located at a former NHS site in Bromley, involves converting the existing structure into 16 modern flats. Given the location’s history as a vacant space, the redevelopment will provide much-needed housing stock while revitalising an underutilised asset.

A standout feature of this facility was the rapid turnaround time. To meet a strict completion deadline set by the NHS, LendInvest moved from the initial application to a full completion in just 6.5 weeks. This efficiently highlights the firm’s ability to navigate complex timelines and provide financial certainty when developers face rigid contractual milestones.

LendInvest structured the deal at 65% LTGDV over an 18-month term with a planned exit of selling the units individually.

This facility marks the second development loan LendInvest has provided to the developer, reaffirming the lender’s commitment to long-term partnerships and support for experienced SME builders.

Steve Larkin, Managing Director for Development at LendInvest, said: “At LendInvest, we pride ourselves on our ability to meet the ambitious timelines of our borrowers. Given the tight deadlines imposed by the NHS, getting this deal completed in 6.5 weeks truly is a testament to the team’s agility and the strength of our relationship with the developer.

Converting vacant spaces into high-quality homes is a vital part of tackling the UK’s housing shortage. We’re thrilled to work with this developer again, and the team and I stand ready to provide the technical expertise and funding certainty that SME developers in England, Scotland and Wales need to thrive.”