Arbuthnot Specialist Finance Limited (ASFL), the short-term property finance arm of Arbuthnot Latham, is pleased to announce it has supported a client in the purchase of a property in Glasgow which provides eight separate office suites.
The deal was completed in just seven working days from the moment the loan was approved. The client utilises ASFL’s ‘Commercial Investment’ offering on a 12 month interest only term at 65% LTV.
The property is currently vacant; however, the client expects to rent the office suites on five year leases.
Yasin Patel & Shoaib Bux, joint managing directors at Arbuthnot Specialist Finance, commented: “Unlike some lenders who may prioritise deals in England, ASFL’s aim is to lend across the UK, so we’re very pleased to have completed our first loan in Scotland, especially in such a short timeframe. We launched in June and we have built ourselves in a way that allow us to turn around deals in an efficient and effective way such as this one.”