Five key VAT bridging loans 2024
BloomSmith VAT Funding
100% of the VAT on commercial property purchases in 48 hours.
The first half of 2024 has seen BloomSmith deliver several large VAT bridging loans across the UK, here’s a breakdown of some of our key transactions so far.
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￡3.04m loan on Westbourne Terrace
BloomSmith recently delivered a VAT bridging loan for a property purchase on Westbourne Terrace in Paddington for the specialist hotel group Capilon Hotels.
The completion of this acquisition represents a strategic addition to their portfolio of elegant, centrally located hotels within the capital.
The ￡3,040,000 VAT loan was on top of a ￡15.2m purchase price and enabled prudent short-term cash flow management during the acquisition.
Read the full story: Westbourne Terrace
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￡1.8m loan in Buckinghamshire
In May, BloomSmith delivered a ￡1,800,000 VAT bridging loan as part of a large industrial property purchase in Buckinghamshire.
Financing the ￡9,000,000 acquisition of a commercial investment was undertaken in partnership with the Manchester-based brokerage firm GDP Funding.
On securing the VAT bridging loan for the property purchase, GDP Funding director Paul Wilcox said: “This VAT bridging loan is a demonstration of GDP Funding tailoring funding solutions to a client’s needs.
Read more: ￡1.8m property purchase
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￡1.04m loan in Leeds
In January, BloomSmith successfully completed a ￡1,040,000 VAT bridging loan on a Leeds property purchase by the development, management and investment specialists Bricks Group.
The completion of this ￡5.2m acquisition represents a prime example of Bricks Group’s ability to expand its operations despite a turbulent property environment.
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Prior to completing this latest transaction, Bricks Group had partnered with BloomSmith to deliver VAT funding for a ￡10m property outside of Norwich.
Speaking on the property acquisition, Bricks Group founder Peter Prickett said: “This is the second time we have worked together to fund the VAT of a purchase and we look forward to working with them again in the future.”
Read more: VAT bridging loan in Leeds
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￡1m+ loan in Ewell, Surrey
BloomSmith delivered a VAT bridging loan in excess of ￡1m in April, as part of a commercial land acquisition in Ewell, Surrey by Morrison Community Care Group.
Once the home to a now-demolished pub, the site is to be developed into a care home following the purchase.
On completing the acquisition, Paul Sokhi, Managing Director at Morrison Community Care Group, said: “We look forward to bringing the Morrison Community Care product of sustainable quality care environments to Ewell, where residents can enjoy safe quality time while enjoying many amenities such as a cinema, champagne bar, spa, bistro and a private dining room.”
Read more: ￡1m+ VAT bridging loan in Surrey
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￡497,000 loan in Windsor
BloomSmith delivered a 120-day ￡497,000 VAT bridging loan for a Windsor industrial property purchase in May of this year.
Part of a ￡2,485,000 acquisition of two commercial units, financing of the property purchase was delivered in partnership with the Hertfordshire-based brokerage Transparent Specialist Finance.
On securing a VAT loan for the property purchase, Sam Bramhall-Allan of Transparent Specialist Finance said: “Securing this loan to cover the VAT owed on the property is a fine example of our ability to adapt to the needs of our clients.”
Read more: Commercial property VAT loan in Windsor
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Written by BloomSmith