A bridging finance facility of £206,000 has been arranged to support the purchase and refurbishment of a six-bedroom detached property in Liverpool that had been vacant for over a decade.
Black & White Bridging provided the 12-month facility to enable the borrowers to complete renovation works before refinancing onto longer-term debt. The planned exit strategy involves letting the property and refinancing once works are complete.
Property condition and scope of works
The property had been unoccupied for more than ten years and contained significant quantities of rubbish and personal belongings at the point of purchase. Required remedial works include the removal of damp plaster and rotten timber flooring.
The house had been extended from its original four-bedroom layout to six bedrooms across two storeys. Despite its condition, the location provides access to local amenities, schools, and public transport infrastructure.
Borrower experience and capital commitment
The borrowers have over 20 years of experience in the construction industry and are undertaking the majority of refurbishment works themselves. They have committed approximately £100,000 of their own capital to the project.
Works are currently underway, with all internal waste cleared and damp plaster and rotten flooring removed. Around half of the garden waste from the front and rear has been cleared. Remaining works include specialist electrical and damp-proofing installations, landscaping, and clearance of the remaining external waste.
According to Shahed Popat, relationship director at Black & White, the borrowers’ construction experience and substantial personal investment demonstrated their understanding of the project’s potential. The property is expected to provide rental accommodation to the area once refurbishment is complete.
The case illustrates the role of specialist bridging finance in property refurbishment projects, particularly where properties have been vacant for extended periods. With recent changes affecting the lettings market and housing security remaining a priority for many, refurbished properties are expected to meet rental demand in the Liverpool area.
