This office building benefits from permitted rights to convert to fully residential and received prior approval to convert to 12 residential self-contained flats. The borrowers are experienced developers. We helped refinance the current facility for £812,428.73 at 70% LTV. In addition, the clients secured 100% development facility for £425,000 which will be monitored via Q.S. and to be released in stages at 65% Loan to GDV. Upon completion of the project the borrowers will be looking to refinance and keep the asset to add to their portfolio for yield purposes.