Commercial property finance for Hong Kong based client

11th January 2021
HEAD OF SPECIALIST LENDING

Chris Whitney

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Commercial property finance for Hong Kong based client
Chris Whitney
HEAD OF SPECIALIST LENDING

Chris Whitney

Key facts:

  • Commercial property in Essex
  • Property value: £17,200,000
  • Loan amount: £6,000,000
  • Interest rate: 4.25% over BoE base rate

At Enness, we have an expert Specialist Finance team in place with a deep understanding of all areas of commercial with a portfolio of transactions covering everything from property development funding to complex bridging finance.

The most recent case involves commercial property finance in Essex. The property, valued at £17,200,000, consists of over 200,000 sq ft of offices, headquarters and warehousing.

The Ultimate Beneficial Owner (UBO) was based in Hong Kong and was looking to raise £6 million to purchase another property.

We liaised with a London based private bank with a presence in Hong Kong to arrange the funds required, successfully securing an interest rate of 4.25% over BoE base rate.

In this case, the drawdown had to take place during the riots in Hong Kong, which made the process particularly challenging when trying to get documents signed and moved around.

Additionally, the client was not advised that VAT was payable on the new building he was purchasing until only a few days before the completion. As such, Enness also provided a VAT loan in time so he wasn’t in breach of contract.

As this example illustrates, using an array of different providers and different financial vehicles, it is possible to overcome even the most complicated and time-sensitive fundraising operational issues.

We can tailor a bespoke commercial property finance deal for your situation, create a degree of long-term security, and maximise your assets to reduce your finance costs.

Call us +44 (0) 203 758 9393 or submit your details and a broker will get in touch.

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