Funding to Purchase an Old Care Home to Convert Into a Nursery
Our client came to us requesting funds for a particularly unique development in Inverness, to purchase and convert an old care home into a nursery.
The client purchased the property at auction and required funds quickly in order to complete the deal within the short deadline.
The property is an impressive Victorian building in Inverness comprising: 27 bedrooms, a reception area, multiple lounges, an industrial kitchen and a dining room.
Lowry Capital provided £480,000 in order to complete the purchase of the property with the clients funding the development of the property themselves.
The client was able to provide an additional property as security, this enabled Lowry Capital to provide 100% of the purchase price.
Lowry Capital is happy to lend on unique projects across the whole of the UK with no postcode restrictions. Further funds can be made available to the client should they be required.
This project will bring a fantastic new much needed nursery to the local area.
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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.
