Development
Pub Conversion and Mixed-Use Development
loan amount £3,414,328
gearing 72%
structure DEVELOPMENT
asset class MIXED - USE
This established investor was converting a public house, located on the Sussex coast, into a commercial unit with four flats above and four new build houses. The acquisition was dependant upon on a blue-chip pre-let for the commercial unit, requiring high leverage and full build cost coverage. Karis secured a comprehensive financing package for the required £3.4m from a single lender, including a stretch senior acquisition loan, full development loan, and VAT loan. This streamlined funding minimised the client’s cash outlay and, despite judicial review delays, ensured viability.
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