Funding for Conversion of Hotel to Luxury Apartments

Location: Derbyshire, England

Final Stage Development Funding

Amount Funded

£ 0

Funds made available within Client Deadline

Our clients owned a beautiful, period property in Derbyshire and had run it as a hotel for many years.

They had agreed to sell the property, and so once contracts had been exchanged, the owners sold off all the fixtures and fittings throughout the hotel – as agreed with the new purchaser.

However, the deal then fell through, leaving the owners with a empty, unsellable shell.

To get themselves out of this difficult position, the owners then put in planning permission to convert the building into six, luxury two-bedroom apartments.

However, funding was required quickly in order to pay off an existing lender and carry out the work.

In addition to the poor internal condition of the building, the clients were also inexperienced in property development. They did, however, have a team of experienced property professionals in place providing advice and support.

Lowry Capital took a commercial view and provided £385,000 to fund the conversion work and pay off the original lender.

The client has now started work on the conversion of the property and is confident of achieving an excellent return on these luxury apartments within a landmark property.

Broker Testimonial:

“Sarah, thanks again for all your help and making another transaction go smoothly.”

Pre-Sale Shell State

01-derbyshire-11-03-2020
02-derbyshire-11-03-2020
03-derbyshire-11-03-2020
05-derbyshire-11-03-2020
04-derbyshire-11-03-2020
06-derbyshire-11-03-2020
07-derbyshire-11-03-2020
08-derbyshire-11-03-2020
09-derbyshire-11-03-2020
10-derbyshire-11-03-2020

Ongoing Conversion Works

11-derbyshire-11-03-2020
12-derbyshire-11-03-2020
23-derbyshire-11-03-2020
14-derbyshire-11-03-2020
18-derbyshire-11-03-2020
21-derbyshire-11-03-2020
19-derbyshire-11-03-2020
20-derbyshire-11-03-2020
17-derbyshire-11-03-2020
22-derbyshire-11-03-2020