The real estate finance specialist SHC Capital has arranged an intricately structured, multi-stage bridging loan to support the purchase and redevelopment of a £23m portfolio of prime London office buildings.
The bridging facility has enabled a highly experienced private investment group to acquire four sought-after office freeholds in the City of London. The finance has been structured to evolve with the project as it moves through a comprehensive refurbishment phase, before maturing into a stabilisation facility.
The investment group, which is part of a wider property investment company with a significant mixed-use portfolio, aims to double its £100m office assets under management within two years.
The £23m GDV1 City of London scheme will play a central role in the expansion of the group’s office portfolio, and reflects the continued strength of the UK office sector. Demand for well-located, high-quality workspace remains high, both from Britain’s six million small businesses and from larger corporates seeking modern, flexible office environments.
The complex, off-market transaction was completed swiftly and discreetly with legal support from Glovers LLP.
Tony Tadros, Director at SHC Capital, commented:
“This is a first-class property investment group that’s an integral part of a wider organisation with a significant mixed-use portfolio. They have a clear, focused remit to expand their office holdings as part of their broader growth strategy.
“This transaction presented a number of complexities; the assets formed part of a much larger estate, the timeframe was compressed and we had to structure a facility that would evolve with the project’s redevelopment.
“We are delighted to have achieved a successful outcome and would like to commend Darren Smith, Partner at Glovers LLP, whose expertise and proactive approach were instrumental in ensuring the deal was delivered exactly on time.”
Darren Smith, Partner at Glovers LLP, added:
“This was a complex transaction that required a swift, solution-focused approach to meet a demanding timeline. It was a pleasure working with the team at SHC Capital, as their precision was critical in ensuring the transaction completed successfully and on schedule.”
