£1.2m Bermondsey conversion bridging brief

The borrower’s brief

A property business is considering a £1.9 million Bermondsey warehouse building. The initial brief proposes £1.2 million bridging and £700,000 towards the price. A conversion is being explored, but the project has not secured all the information needed to treat that use as deliverable.

The question behind the loan

The present commercial property and an intended future conversion are different propositions. The funding discussion must be clear about existing permissions, surveys, access and services, the work still needed and the proposed repayment route. The future scheme cannot be presented as already approved.

Information to bring together

• Present lawful use, title, occupation and available planning records.
• Surveys, access and servicing constraints identified by appropriate professionals.
• A staged project budget showing acquisition, professional work, construction and finance costs separately.
• The intended sale or refinance exit, remaining dependencies and an alternative if the scheme changes.

Where the assessment goes next

The first assessment is whether a coherent acquisition and repayment proposal exists before any conversion assumptions are relied upon. Specialist planning, legal and surveying advice may change the project. No permission, finished value or finance outcome is claimed.

Discuss your own circumstances

A similar loan amount or property type does not mean the same finance is available. Income, commitments, credit history, the property and current terms need an individual assessment. Tell Jack what you want to achieve and any part of the plan that remains uncertain.

Start a conversation about your own brief ↗