Alternative Bridging Corporation has completed a £1.2 million semi-commercial bridging loan to facilitate the quick purchase by an existing tenant of their South East London property.
The tenant, operating as a business within the semi-commercial property, secured an opportunity to purchase the building from their landlord for £1.5 million, significantly below the £2 million market valuation. Facing a tight deadline to take advantage of the discounted price, the tenant required a quick financial solution to complete the transaction.
Alternative Bridging provides a £1.2 million semi-commercial bridging loan, enabling the tenant to meet the seller’s deadline.
The loan was completed within 20 working days, including 10 days from the receipt of the valuation to final completion.
Due to the quick processing, the tenant successfully acquired the property at the discounted price of £1.5 million.
Taylor Osunsedo (pictured), business development manager at Alternative Bridging Corporation, said: “This is the type of case that exhibits our ability to deliver tailored and timely solutions that meet the needs of our clients directly.
“The co-operation between all parties involved was exemplary, and we’re delighted to have supported the tenant in securing a fantastic opportunity to purchase their premises at a substantial discount.
“We take pride in enabling our clients to achieve their property goals, no matter how complex or time sensitive.”
