TAB has completed a £451,500 bridging facility secured against a light industrial building in Barnsley.
The 12-month facility was structured at 70% loan-to-value and secured against a detached commercial property arranged as four self-contained units around a shared forecourt and parking area.
The transaction refinanced the existing commercial asset, with funds released to support the borrower’s acquisition of a second site.
TAB said both properties were intended to form part of an overall security structure, supporting the borrower’s plans to grow their commercial property portfolio.
The borrower, an early-stage commercial investor, had renegotiated the tenancy agreements on the existing asset before approaching TAB, strengthening rental income and improving the viability of the deal.
The lender said the bridge was structured to allow capital to be released quickly, enabling the borrower to proceed with the next purchase without delay.
The multi-asset structure, involving both a refinance and a new acquisition, required coordination between TAB and the introducing firm, Brilliant Solutions.
An underwriter at TAB said: “This was a refinance of one commercial asset to raise capital for another purchase. The borrower secured a strong price from the local authority and improved the existing tenancies to support servicing.
“Megan at Brilliant Solutions was extremely helpful in responding to any queries and keeping the process moving.”
