Structured Property Finance For A Student HMO Portfolio In Sussex

The Scenario

The clients were experienced student accommodation providers looking for finance for the acquisition and 100% of the renovation costs of a property they wanted to buy and convert to a six-bedroom HMO. The works would include the addition of bathrooms and a large communal kitchen.

Additional risk: the client aimed to acquire the property before obtaining a change of use planning permission.

The Solution

The experienced structured property finance lender approached was willing to provide acquisition funding based on the track record of the clients.

Their meetings established that they are experienced developers and managers of high-quality student accommodation in this town (they have won an award for one of their properties).

The clients subsequently secured the necessary planning consent, and the development works proceeded on schedule.