Lendhub

Lendhub provides £2.5m for south London development



Lendhub has completed a £2.5m deal to assist a borrower with the acquisition and extension of a south London mixed-use property.

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The funding will be used to purchase the period building and construct a four-storey rear extension to create five dwellings and convert the current upper floors from offices into residential units.  

The 21-month loan was completed at 66% LTGDV.

The case was introduced by Hydra Capital, while Knight Frank and Lawrence Stephens helped with the deal completion.

Asim Shirwani, chief commercial officer at Lendhub (pictured above), said: “This was a very truly multifaceted deal introduced by one of our key partners, Demi Shiamishis [managing director at Hydra Capital].

“Works included a new-build element to the rear, conversion of the upper parts under permitted development, and refurbishment of the vacant retail unit and basement — all the moving parts we love in a deal. 

“Having helped the client secure the property, we can’t wait to get stuck in with assisting him with the works.”

Demi added: “The team at Lendhub were a breath of fresh air throughout this case, despite several hurdles along the way.  

“Their commercial decision making, however, stands out, particularly with regard to a flexible approach to the decisions which had to be made quickly.”



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