Avamore Capital has completed a £935,500 refurbishment and conversion facility for a repeat borrower.
The facility was structured to support the conversion and enhancement of the residential asset while maximising leverage from day one, enabling the borrower to deploy capital efficiently across the wider project.
A key complexity within the deal was the borrower’s intention to undertake a loft conversion, where planning approval was still pending. Rather than delay completion and risk stalling progress on-site, the loan was structured to allow the borrower to proceed immediately, without having to wait for formal loft planning consent.
This ensured works could commence on the core refurbishment and conversion elements, protecting programme timelines and allowing the borrower to maintain contractor continuity.
Adam Butler (pictured), director of sales and marketing at Avamore Capital, said: “This deal reflects exactly what we aim to deliver momentum, flexibility and confidence. By structuring the facility creatively, we ensured our client could move forward immediately rather than waiting on planning, which can often stall progress and increase costs. Having worked with this borrower before, we understood their experience and objectives, which allowed us to move decisively and structure a solution that truly supported their strategy.”
Saif Ali Khichi, underwriter at Avamore Capital, added: “From an underwriting perspective, the strength of the client’s track record gave us confidence in the delivery of the scheme, and by taking a structured and controlled view on the pending loft planning, enabled us to mitigate risk while still providing meaningful leverage. It’s a good example of how thoughtful structuring and close collaboration between underwriting and origination can unlock opportunities without compromising on credit standards or delaying completion timelines on an acquisition.”
