Funds for a Lucrative Buying Opportunity - 100% of Purchase Price Needed
Our clients, experienced nursery operators, had the opportunity to buy an established operating nursery in Gateshead at a very favourable price. However, to secure such a brilliant deal, they only had 9 days to complete.
The clients were very keen to purchase the property, as it would be a lucrative addition to their existing nursery business. The client required 100% of the purchase price and in order to make the deal work, we took additional security over another nursery the clients already owned in Newcastle.
The timeframe was extremely tight, bearing in mind that new valuation reports and legal conveyancing needed to be done on two separate commercial properties, including drafting and executing new leases. Lowry Capital was able to provide the funding to meet the deadline and ensure the smooth transition of the new nursery business into the client’s portfolio.
“We clearly had a very motivated purchaser who was getting a great deal, and a very good introducer who was keen to meet their client’s expectations. This coupled with our desire and our solicitor’s desire to get deals done, meant that a difficult transaction involving two commercial properties was completed within a week and a half. At Lowry Capital, we take no upfront fees, nor do our solicitors, so we are all genuinely focused on completing the transaction in the quickest time possible. At Lowry Capital, we provide an industry-leading level of service, especially when timeframes are tight.”
I would like to thank you on behalf of CFB for your assistance on the nursery school case.
I cannot think of any other commercial bridging lender that could have moved with the speed and efficiency of you and your team on this case, completing the process from issue of proposed facility terms to drawdown of funds in only 9 working days, including valuation. Lowry Capital’s prompt underwriting and flexible approach to overcoming queries and obstacles at the legal stage greatly facilitated the swift completion that was essential to our clients.
John Preiss – Commercial Finance Broker