GB Bank has completed a £6.15 million bridging facility for a commercial property in Uxbridge, west London, allowing the borrower to refinance existing debt whilst arranging development finance.
The loan was structured over an 18-month initial term with a six-month extension option. The transaction completed in nine weeks from initial enquiry to disbursement, including valuation and legal processes.
Transaction structure
The borrower, a UK-based entity with a multilayered offshore ownership structure, required refinancing as an existing loan approached expiry. The facility used a hybrid interest model combining a serviced portion with a retained element.
Pankaj Thukral, chief lending officer at GB Bank, said: “From the outset, we adopted a creative approach to the loan term, ensuring clarity on both sides, whether or not the development finance materialised within the projected timeline. This foresight prevented any surprises and aligned the facility with the borrower’s evolving objectives.”
Offshore complexity
Thukral noted that the transaction involved a complex offshore structure requiring coordination between GB Bank’s team and solicitors to navigate legal and regulatory requirements.
“By structuring a flexible solution around a non-standard offshore entity, we enabled the client to take control of their next phase with confidence,” he said.
The facility provides the borrower with additional time to progress development funding plans for the Uxbridge property without disruption to existing arrangements.
