Intermediary site Home Case studies Commercial multi-tenant purchase completes in four weeks Commercial multi-tenant purchase completes in four weeks We completed a developer’s purchase and re-development of a £700,000 commercial site in Birmingham in just four weeks. A Crystal Specialist Finance (CSF) client, an experienced property developer with a large commercial property portfolio, wanted to buy two warehouses and an office on the same site, refurbish the two existing units and build a new industrial unit at the back. They were under pressure from the vendor, who wanted a quick sale, and the developer wanted to complete while waiting for approval from the planning authority to build the new unit. Crystal approached us, and we agreed a £475,000 commercial bridging loan for the purchase, to be replaced by a development finance facility to fully complete works before the whole site goes back on the market. Despite the application proving complex – industrial units with multiple tenants tend to be more complicated at the legal stage – and the fact the purchase completed during a national lockdown, the sale was completed in four weeks. Jason Berry, group sales and marketing director at CSF, said: “To complete a fully commercial purchase of a multi-unit site in just four weeks in the current climate – including a new full commercial valuation and legals - is amazing. “I am hugely grateful for the effort and expertise demonstrated by everyone involved – the lender, client and solicitors have all been superb to deal with.” Marc Goldberg, commercial CEO, said he was “delighted” his team had been able to provide the finance needed within such a short timescale. He said: “It was fantastic that we could meet the ambitions of this experienced commercial property developer to seize an opportunity to expand his portfolio. “We were able to instruct a valuation quickly and work closely with Crystal, their client’s solicitors and our in-house legal team at Priority Law to get the best outcome possible.” Share Make a bridging loan enquiry We look at each case on its own merits. Find out more Personal bridging loan FAQs Helping you find the right answers to our personal bridging loans. Find out more Latest news See what we've been up to. Find out more Follow us on Careers Website terms of use Privacy and cookie policy Manage Cookies Company policies Fair Processing Notice I have received someone else’s documents Important documents Together blog Together reviews The Great House Giveaway Sitemap Copyright 2021 Together is a trading style of each of the undernoted companies, which have their registered office address at Lake View, Lakeside, Cheadle, Cheshire SK8 3GW. Together Financial Services Limited | Registered in England and Wales - Company Registration Number 02939389. Together Financial Services Limited is the operator of this website. Together Personal Finance Limited is authorised and regulated by the Financial Conduct Authority (FCA) | Registered in England and Wales - Company Registration Number 02613335. FCA number is 305253. Together Commercial Finance Limited | Registered in England and Wales - Company Registration Number 02058813 SPOT Finance Ltd trades under 2 trading names; Spot Finance Limited (Registered) and Together (trading). SPOT is authorised and regulated by the Financial Conduct Authority (FCA) | Registered in England and Wales - Company Registration Number 01998543. FCA number is 724450. Auction Finance Limited | Registered in England and Wales - Company Registration Number 04949929 Bridging Finance Limited | Registered in England and Wales - Company Registration Number 03166982 Blemain Finance Limited is authorised and regulated by the Financial Conduct Authority | Registered in England and Wales - Company Registration Number 01185052. FCA number is 719121. Together Personal Finance Limited is a member of the FLA. The FLA Lending Code can be found at www.fla.org.uk. Developed by Kagool