Funding to Convert a Grade II Listed Fish & Chip Shop into 2 Houses

Funded: £233,000

Location: Ripon

Property Type: Commercial to Residential

Funds For: Conversion

Timeframe: 3 Weeks

Our client an experienced property developer, had purchased a Grade II listed Fish & Chip Shop and had obtained planning permission to convert it into two residential properties.

The property comprises two mid-terrace former residential dwellings that are now interconnected and was recently utilised as a fish and chip shop and restaurant.

Although it is the first time this developer has converted a commercial building into a residential one, they had extensive experience building and converting residential properties so Lowry Capital was happy to lend as the project made sense to us.

Lowry Capital Funded £233,000 across 4 tranches for the development of the property.

The final result is a high-quality conversion of the former commercial unit into two attractive residential homes, completed to a superb standard.

One unit has been sold, generating a strong profit, while the other is retained as a rental, providing ongoing income, another great example of how our flexible, multi tranche funding supports developers through unique projects in historic listed buildings.

Our Development Funding:

Lowry Capital is a lender of development funding. We provide loans of up to £4million within a few days.
As a principal lender, we lend our own money and make our own common-sense lending decisions.
We provide an award-winning service and you will always deal directly with a decision maker.
No upfront arrangement fees, no solicitors cost undertaking, we share a genuine desire to get a deal done.
Hands off lending approach: You choose and manage the professionals and contractors for your development.
Previous development experience not essential.
Our streamlined and highly efficient lending process guarantees ease of funds and speedy delivery.
We provide developers with flexible, bespoke funding, tailored to fit your schedule of works.
Funds can be drawn down in multiple tranches and you will only pay for the money actually drawn, keeping finance costs to a minimum.
Our funding helps with your cash-flow and allows you to keep significant funds from the sale of units.
Development funds can typically be drawn-down within 10 days.
No proof of income required.

You can learn more about our Development Funding Here.