02/09/2026
Transforming a commercial site into a 3-property mixed-use asset.
A developer came to us to refinance an existing loan and fund a mixed-use conversion in Poole. Backed by a guarantor with 96 completed developments, we provided a £893k heavy refurbishment facility at 69% LTV and 69% LTGDV, over 12 months.
This heavy refurbishment comprises four different components, requiring significant structural works to the property. These include:
- Alterations to the ground floor commercial unit
- Planning permission for the extension and conversion of the upper floors into a 7-bed HMO
- Planning for the construction of a 1-bed flat
- Change of use to the rear two-storey building from commercial to residential for a 2-bed house.
Alongside the planning permission required for a mixed-use conversion, the exit also required consideration. We stress-tested against semi-commercial mortgage guidelines to ensure viability.
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Shoutout to Jack Bruce, Theo Goodman and Sophia Panteli for their work getting this loan across the line.