Former Bank building acquisition in Town Centre

£161k facility was provided to purchase a Grade 2 listed former Yorkshire Bank building in the heart of a town centre.

The Client required quick action to purchase a stunning Grade 2 listed building.

Momentum provided the facility at 70% LTV of the purchase price.

The property will be converted into a new trendy bar, commercial office space and residential BTL flats.

The Client set up a new SPV, and Momentum was able to provide funding.

The Client had a significant personal property portfolio in the background, which was used to evidence the serviceability of the facility.

Two tenants are looking to move into the property on completion of a minor refurbishment.

The Client was so impressed with the speed and flexibility of Momentum - we are currently looking at two further acquisitions with them.