Late 2017 marked a significant moment for BloomSmith, as we completed a VAT bridge loan for an owner-occupier for the first time in our company’s history. We have a strong commitment to ensuring smooth financial transactions for commercial property purchases, in all situations. We were proud to be able to offer a VAT loan to an owner-occupier in this particular case.
The application came to us from one of the most respected, award-winning female titans of construction. The client had an impressive portfolio of architectural design, high-end construction projects, and engineering achievements, coupled with the solid plans for the development of her new project. This ensured that BloomSmith felt secure in granting the full loan application of just over £510,000, 20% of the full purchase price.
The building in question sits in an industrial area just outside of London, and was at the time entirely vacant. In order to once again put this 30,000 sqft building to use, our client proposed the re-occupation of this 1970s structure to make it once again usable as a their business location. The client intended to use this building themselves, making use of the vast industrial space and incorporated offices.
Between the generous square footage of the building and the 1.5 acres of land it resided on, the full purchase price was over £2.5 million. As such, securing a VAT loan for the purchase ensured that funds would be available for not just the property purchase but the much-needed relocation and subsequent fit out.
At BloomSmith we’re always keen to help owner-occupiers achieve their aspirations for the next commercial project. If you’re looking to secure VAT loan funding for your next large commercial property venture, call our experts directly on 020 3488 3411 and discuss your aims with us; we are confident that we can help.