Enness was approached by a client who owned a high-value country residence in the Cotswolds, valued at circa £18 million. The property had recently undergone significant refurbishment, with an estimated £3 million of works still required to complete the project to a luxury standard. Once finished, the intention was to operate the residence as a premium short-stay hospitality asset.
The client needed to refinance the existing borrowing secured against the property while simultaneously raising additional capital to complete the remaining refurbishment. As the asset was not yet income-producing, the client required a structure that did not involve servicing monthly interest, ensuring cash flow remained unconstrained during the works.
Enness arranged a facility that refinanced the existing debt and released further funds to complete the refurbishment. The loan allowed interest to be rolled into the facility rather than paid monthly, with repayment planned via a refinance onto a conventional long-term holiday-let mortgage once the works were completed and the property began generating income. An alternative repayment route was also available, supported by a future liquidity event.
The facility was secured without early repayment penalties, giving the client complete flexibility to refinance or settle the borrowing as soon as the project reached completion. This ensured maximum optionality, improved cash-flow management during development, and provided a clear exit route into long-term finance.
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Property values can fall as well as rise, and you may not get back the amount originally invested. Property investments can be illiquid and may take time to sell. Where borrowing is used, your property may be repossessed if you do not keep up repayments on a mortgage or other loan secured against it.
