Avamore Capital has completed a £432,900 refurbishment facility for a residential development in Weymouth.
The funding package, which provides the capital required to revitalise the property, was characterised by a competitive 75% day-one LTV, providing the borrower with maximum liquidity at the project’s inception.
Avamore managed the timeline effectively to ensure the project was fully capitalised and ready for the renovation phase to begin.
George Poole (pictured), relationship manager at Avamore Capital, said: “I am delighted to have supported the borrower on this Weymouth refurbishment. We remained fully committed to the deal while the borrower finalised their broader funding requirements. Providing a 75% day-one LTV has given the borrower the strong start they needed to get this project moving.”
Saif Ali Khichi, underwriter at Avamore Capital, added: “From a credit perspective, this was a very straightforward case. Our focus was on providing a seamless experience and ensuring we were ready to move as soon as the borrower was. We are pleased to have delivered a high-leverage solution that meets the specific needs of this refurbishment, and we look forward to seeing the project progress.”
