£726k Refurbishment Bridge to Purchase and Refurbish Derelict Barn
At a Glance
| Client Type | Experienced developer |
| Loan Product | Refurbishment Bridge (Day One Loan + Drawdown Facility) |
| Facility Size | £726,000 |
| LTGDV | 63% |
| Interest Rate | 0.97% |
| Time to Completion | 4 weeks |
| Location | Gloucestershire |
| Lender | Colenko |
| Applicant Profile | Experienced developer with excellent track record of ground-up developments and barn conversions |
The Opportunity
An experienced developer with a strong track record in ground-up projects and barn conversions approached Avid Finance to fund the purchase and refurbishment of a derelict barn in rural Gloucestershire. The goal was to secure a facility that would support both acquisition and works.
The Funding Strategy
The project required a lender who not only understood refurbishment lending, but also appreciated the long-term value of rural properties in the area. Avid identified a lender with a solid understanding of the local market and used the developer’s proven experience to build a compelling case. This led to a favourable offer comprising a day one loan for purchase and a full drawdown facility to cover the conversion costs.
The Outcome
The loan completed within four weeks. The facility provided immediate funds for acquisition and 100% of the refurbishment costs via drawdown, enabling the developer to move ahead without delay.
Why It Worked
By focusing on the strengths of the deal — a skilled developer and a high-potential asset — Avid was able to secure early engagement from the lender. The case was structured clearly and positively, leading to a fast DIP and competitive terms.
Ready to Fund Your Next Project?
Need finance for a residential conversion, refurbishment, or ground-up development? Avid Finance can help you secure the right lender, on the right terms — quickly and confidently.
Contact Avid Finance on 020 3920 6920 and let’s talk about what’s possible.