Ironbridge House

A prominent commercial building was granted planning to convert it to 57 apartments.

Our client, a property development firm wished to acquire the site and they mandated LEXI to arrange the finance for acquisition and development.

The finance process began prior to the coronavirus pandemic but given the market shift, the transaction was quickly impacted as economic uncertainty emerged.

Changes to the structure were required late into the process which were only possible thanks to the senior lenders flexibility and commercial view.

The transaction completed during the peak of the COVID-19 lockdown in line with the headline terms that were agreed in January, before the outbreak of the virus.