Developer Kalinga Holdings is converting the property into flats in one section of the building, while the remaining section may be leased to a hotel operator.
The two-year bridging loan was completed in just 21 days from the initial loan application to the drawdown of funds.
Agam Jain, managing director at Vector Capital, said it was delighted to work with Kalinga Holdings on this development.
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“Our quick loan processing, transparency and agility enable us to overcome any issues or problems in loan applications swiftly, compared with larger lenders.”
Neal Patel, director at Kalinga Holdings, commented: “We chose to work with Vector Capital on this new development as we have been deeply impressed with the support and partnership approach the lender has taken in working with us over the past six years.”
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