Client purchased the site as an ex retail unit and then achieved change of use to convert the site into a restaurant, bar and leisure facility. Part of the build would increase the square footage to 13,000 by adding a mezzanine floor.
The client approached Approved with their first requirement to refinance their existing bridge loan of £700,000 and release further
funds to carry out the improvement works to the building at a cost of £564k. We provided a net facility of £1.25m to assist along with a further £500k from Approved Business Finance for the internal fit out separately