Unbranded Finance completes £2.5m bridging loan for office building in Glasgow city center
Unbranded Finance kicked off 2022 by securing a £2.5m bridge loan in the name of Courie Investments Limited, secured by a prime office building in Glasgow city center with planning permission for an apartment. 113-room hotel at 249 West George Street, corner of Blythswood Square.
The 24-month loan will be used as a holding facility by the developer while it considers a number of redevelopment options for the building, including implementing the existing apartment hotel consent, or total redevelopment for continued office use.
Andrew Smith, Co-Founder of Unbranded Finance, said: “We used our deep local market knowledge and in-house real estate expertise to very quickly underwrite this transaction, and it was executed without the need for an external valuation, allowing the drawdown will be accelerated, demonstrating our flexible approach to providing fast and simple financing solutions.
Andrew White, Director of Courie Investments, said: “Unbranded has delivered exactly what it promised. Transactions like this always have their complications, but it’s always refreshing to deal with a lender who takes such a pragmatic approach with a “can-do” attitude. »
Unbranded Finance was established in 2020 and has offices in Edinburgh and London.