£1.2M Heavy Refurbishment – West Yorkshire
A borrower required funding for Phase 2 of the conversion of a Grade II listed Victorian school in West Yorkshire. The project involved creating 13 dwellings (6 townhouses, 4 triplexes, and 3 apartments) as part of a larger redevelopment strategy.
Overview
A borrower required funding for Phase 2 of the conversion of a Grade II listed Victorian school in West Yorkshire. The project involved creating 13 dwellings (6 townhouses, 4 triplexes, and 3 apartments) as part of a larger redevelopment strategy. With strip-out and first fix already underway, they needed capital to continue works and enough term to complete and stabilise the asset before refinance.
The Challenge
The borrower needed:
◽️ High-cost, staged construction in a complex listed building
◽️ Need for initial cash flow and ongoing phased funding
◽️ Timeline and flexibility required to finish and let units before refinance
◽️ Market location with modest values but strong rental demand
Our Solution
Acre Lane Capital delivered a £1.2 million loan over 18 months, structured to provide:
◽️ £200,000 initial drawdown for immediate cashflow
◽️ Staged drawdowns tied to construction milestones
◽️ 0.9% per month interest, rolled-up
◽️ 18 month term to allow time for both build and letting
The Outcome
✔ Borrower able to continue works without funding delays
✔ Historic building conversion supported with phased capital
✔ Timeline aligned with rental strategy and long-term refinance
✔ Clear path to add value and exit on the borrower’s terms
Why This Matters
This facility reflects Acre Lane Capital’s ability to support complex heritage refurbishments with high-spec outcomes. By structuring funding around the build schedule and future rental strategy, we helped the borrower protect project quality, maintain momentum, and plan their exit with confidence.