Specialist lender Inspired Lending has provided a £635,000 short-term facility to refinance a newly converted semi-commercial property in Leicester, marking another addition to its expanding portfolio of mixed-use and complex asset lending.

The two-storey property, a former factory, has undergone significant transformation and now comprises two ground-floor retail units with eight self-contained residential flats above.

The loan refinances the borrower’s original facility, which had funded the works, and includes a capital raise element to support the next phase of the investment.

With the construction phase now complete, the borrower intends to let the residential and commercial units and move onto a longer-term commercial mortgage once the rental income has stabilised.

Inspired Lending structured the deal to reflect the property’s post-conversion value and the borrower’s forward plans, offering a clean transition from development finance to an income-backed term facility.

The lender said the case was typical of the kind of project it supports — where borrowers need rapid, pragmatic funding to bridge the gap between completion and long-term finance.

“It’s exactly the kind
of pragmatic lending
we aim to deliver”

Gavin Diamond (pictured), chief executive of Inspired Lending, said: “This case reflects a familiar scenario. One where a borrower has successfully completed a project and now needs a clean, simple way to move onto the next phase.

“Our role was to step in quickly with a structured refinance that gives them some cash flow and breathing space to let the property and secure a commercial term loan.

“It’s exactly the kind of pragmatic lending we aim to deliver: fast, flexible and rooted in the real value of the asset.”