The Challenge of Refinancing a Historic Gem
Refinancing a historic property can be a daunting task, as due to the restrictions on the buildings it can cause huge issues for lenders. P10 Financial Group recently demonstrated a successful refinance of a Grade 2 listed building in the North West, after one of our clients has completed a high end commercial to residential conversion.
Grade 2 listed buildings, with their rich heritage and architectural significance, present unique challenges and opportunities. These properties often require a high-end finish to preserve their historic charm while making them viable for modern use. This particular asset, needed a bespoke financial solution to allow our client to refinance from the expensive bridge facility they took to renovate the asset.
The Role of P10 Financial
As seasoned debt advisers, P10 Financial Group was called upon to navigate the complexities of refinancing this semi-commercial gem. Our task was to secure terms the most competitive terms available at the correct leverage which would allow our client to pay off an expensive bridging lender whilst also releasing equity to make further acquisitions.
The Results
P10 Financial Group delivered an exceptional refinancing package with the following key elements:
Property Valuation: £3,200,000
Leverage – 75% LTV
Interest Rate: 5.94%
Asset Type: Semi-commercial
Equity raised: £1.4m additional cash released
This refinancing deal not only secured the needed funds but also did so at an attractive interest rate, ensuring the property remains a valuable asset for the owner.
Preserving the Past, Securing the Future
Developing a Grade 2 listed building requires a careful balance between preserving the past and planning for the future. With this project, our client was able to respect a property's heritage while maximizing its commercial potential.
Partner with P10 Financial Group
If you have a historic property that requires refinancing or are looking for bespoke financial solutions for your commercial assets, P10 Financial Group is here to help. Our team of experts is dedicated to finding the best terms to suit your needs, ensuring your investments are both profitable and sustainable. Contact us today to learn more about how we can support your financial goals.