Auction Purchase & Conversion of a Three-Story Victorian House Into 6 High-End Flats
Our client, a Liverpool-based property developer, spotted a prime opportunity at auction. A three-story, end-terraced mid-19th-century house with excellent potential for conversion.
After winning the property at auction they needed funds quickly to secure the purchase before the tight auction payment deadline.
Lowry Capital initially provided quick funding to secure the purchase, ensuring the client didn’t miss out on the deal.
Following the acquisition, Lowry released three further advances for the development of the property, bringing the total funding to £653,000, allowing the developer to completely transform the property into six luxury flats.
Upon completion, the property’s value had risen from £400,000 to £1,054,000, demonstrating the success of the project.
With a strong momentum behind them, our client wanted to act quickly and secure their next investment opportunity, before the current flats had all sold.
Once again, Lowry Capital stepped in, releasing further funds in just 5 working days, allowing the client to move forward with their new opportunity without any delay.
All six flats have now been sold and the developer is set to make a healthy profit.
Before : Pre-Auction Purchase
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Funding Stage 1
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Funding Stage 2
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Funding Stage 3
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Funding Stage 4
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After : Additional Funds Released Following Completion for Next Project
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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.
