LendInvest secures £900k+ refurb GDV facility for £1.5m semi-commercial scheme in Buckhurst Hill
LendInvest (LSE: LINV), a technology-backed specialist lender, has structured an 18-month Refurb GDV facility exceeding £900k to fund the share purchase acquisition and heavy refurbishment of a semi-commercial property in Buckhurst Hill, London.
The lender’s Refurb GDV facility allows developers and property investors to maximise borrowing power by calculating the loan limit against the property’s Gross Development Value (GDV). With the focus on the GDV, this line of finance provides the day-one capital needed to acquire or refinance a project, while supplying staged funding to cover 100% of the construction costs. This allows developers to unlock the property’s full potential without tying up their own capital.
This deal is the first case placed with LendInvest by Nascot Advisory, delivered on behalf of an experienced developer with a strong track record as a repeat LendInvest borrower.
The project involves constructing a double-storey rear extension and converting a detached rear building, expanding the site’s total Gross Internal Area (GIA) to 329 sqm. Once completed, the scheme will comprise a ground-floor retail unit, two high-spec duplex apartments and a standalone two-bedroom bungalow, bringing the asset’s Gross Development Value (GDV) to £1.5m.
To accommodate the complex scheme, LendInvest structured a day-one net loan of £417,000 at 70% LTV, alongside 100% funding for the £358,000 construction budget. The tailored package maintains a conservative 59.52% LTGDV. The borrower’s exit strategy is to refinance the residential portfolio onto LendInvest’s long-term BTL products while retaining the option to sell the commercial unit separately.
Vishal Dixit, managing director at Nascot Advisory, says: “Placing our first case with LendInvest was a seamless experience.
Their team understood the nuances of the share purchase acquisition and heavy refurb elements immediately, delivering a flexible structure that met our client’s exact timeline and capital needs. Utilising the in-house MS/Asset manager function sped up the process, and completing the deal in 38 days resulted in a great outcome for our borrower. We look forward to building on this partnership.”
Michael Minnie, head of sales for bridging at LendInvest, says: “At LendInvest, we’re always ready to support brokers and their clients who can see the potential in a property. Our Refurb GDV product is the perfect fit for borrowers who want to take on ambitious projects.
We are thrilled to complete our first deal with Vishal and the team at Nascot Advisory while continuing our strong relationship with a valued repeat borrower. Refurbishment projects of this scale require flexibility and precise structuring, and our £900k+ facility gives the developer the exact runway needed to unlock this site’s £1.5m potential.”