19 UNITS FOR APART HOTEL & BAR BRAMLEY MOOR DOCK, LIVERPOOL
Client approached Focus Commercial after having no joy raising funding with other brokers and was referred from another client. They spotted an opportunity to purchase a former dilapidated house and convert it to an 18 Room Apart Hotel with a traditional themed Whisky Bar.
What we did
Client approached Focus Commercial after having no joy raising funding with other brokers and was referred from another client. They spotted an opportunity to purchase a former dilapidated house and convert it to an 18 Room Apart Hotel with a traditional themed Whisky Bar.
Focus helped the new developer client at each stage of the project lifecycle in terms of funding, purchase and construction, the development exit finance, and then the long-term mortgage which stabilised this fabulous asset on a long-term finance solution.
Development guidance, expertise and services we provided:
Secured the project site with acquisition and construction funding.
Confirmed to our returning developer client that the scheme was profitable and fit for funding presented through Focus.
Prepared a detailed Development Credit Paper to submit to the development lenders.
Prepared a detailed Development Appraisal to submit to the development lenders.
Prepared a detailed Development Cashflow Forecast to submit to the development lenders.
Liaised with the client’s architect and quantity surveyor.
Advised and arranged for our client Structural Defect Warranty Insurance.
Project Managed the whole loan process on behalf of our client, dealing with the lender, valuer, lender IMS, lenders solicitors and client solicitors.
Assisted our client with the lender’s IMS (Independent Monitoring Surveyors) requirements.
Advised our client what is needed for Practical Completion to ensure a smooth refinance for the commercial mortgage.
I call John “my financial handyman,” and Focus have now provided finance for my next development sites
“I have been in the construction industry for over 18 years now since leaving school.
Initially starting out as a groundworker, and then as a landlord building a small portfolio of rented out residential houses.
I have wanted to own my own hotel, and an opportunity came up to purchase a former disused public house, which is near to the new Everton FC stadium based at Stanley Dock.
John and the team at Focus were recommended to me to arrange the funding for the purchase and refurbishment of the property project.
John assisted me with the development appraisal, appraising the build costs, sales figures, preparing a cashflow forecast and advised me on what was needed for the project such as a planning consultants, recommending an employer’s agent and what professional reports were needed.
John and the team at Focus obtained the initial purchase and refurbishment loan to complete the project, whilst monitoring the project through the construction term.
John then had a development exit finance ready for me at practical completion, ready to repay the purchase and refurbishment loan before the end of the term.
This enabled me to work on a long-term tenant for the commercial lease, which I was then in a position to stabilise the asset on a long-term commercial mortgage arranged through Focus, as it was now completed and tenanted in which I now received a great passive income.
I call John “my financial handyman,” and Focus have now provided finance for my next development sites.”
Property Developer & Apart Hotel Operator
Ryan Foley
Coastal Developments NW Ltd