£5.16m bridging loan for prime Vauxhall office block

The Situation

The client identified a prime commercial office building in South London. The building is a high-quality commercial space arranged over ground and four upper floors.

The acquisition price was £8.3 million, and the client needed to complete the purchase within a tight two-month timeframe to secure the property. While the group had substantial financial resources and planned to refinance with a high street lender longer-term, speed was critical to meet the vendor's deadline. The client required a bridging solution that would enable them to move quickly whilst providing competitive rates given their strong financial profile and the owner-occupied, serviced nature of the loan.

The Solution

West One structured a £5.16 million bridging facility at 62% loan-to-value, secured against the commercial property. Understanding the strategic importance of the acquisition, we offered a competitive variable rate. The facility was arranged on a serviced interest basis over 12 months, providing a higher net loan advance and greater flexibility for the client whilst they arranged their preferred long-term financing.

Working closely with the client throughout the process, our team assessed the quality of the commercial asset, reviewed the group's substantial accounts and existing property holdings, and coordinated with all parties to ensure the hard deadline was met.

Our deep understanding of commercial property in the region, combined with our experience in underwriting asset classes such as these, allowed us to underwrite this transaction with the confidence and speed that traditional lenders simply couldn't match.

The tailored funding structure worked alongside the client's intercompany loan to complete the balance of the purchase price, with completion achieved in September, comfortably within the critical two-month window from initial application in August.

The Benefit

West One's bridging facility enabled the client to secure a strategic commercial property for their business operations without disrupting their working capital or wider business activities. The competitive rate structure and serviced interest terms provided cost-effective short-term financing while the client arranged their preferred long-term facility with a high street lender.

Where other lenders would only see complexity and risk in the tight timescales, West One saw opportunity. We assigned a senior underwriter with deep knowledge of commercial offices in London to lead the assessment. It’s our ability to underwrite substantial commercial acquisitions quickly, backed by our extensive knowledge of regional commercial property markets, that positions us the lender of choice to deliver on deals like this within strict timelines, all without compromising on competitive terms or the loan structure.