Financing Solutions for Multi-million Pound Grade 1 Listed Property Acquisition and Refurbishment
5th December 2023
This client approached us with a specific objective: to secure a Grade 1 listed property in the UK, earmarked to become their primary residence. With a budget of approximately £8 million for the property acquisition and in excess of £7 million for refurbishments, the client faced the challenge of structuring an optimal financing solution to realise their vision.
The client had accumulated substantial wealth overseas, and this project marked their entry into the UK real estate market.
We facilitated a mortgage agreement covering 65% Loan to Value (LTV) for the property purchase at a competitive rate of 4% + Bank Base Rate (BBR). This enabled the client to secure the desired property while minimising their upfront capital commitment.
In order to cover the significant costs of refurbishing the property, Enness were able to secure a competitive LTV mortgage at the desired rate. This customised financing solution enabled the client to allocate more funds towards the transformation of the Grade 1 listed property without significantly increasing their financial risk.
The financing arrangement enabled the client to finance approximately 70% of the combined cost of property acquisition and refurbishment, demonstrating a strategic approach to capital utilisation.
The Grade 1 listed property, post-refurbishment, is estimated to have a market value ranging between £18 and £20 million.
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