The 18-month facility was structured to support both delivery and exit, at below 60% LTGDV.

The primary strategy is refinance upon completion, with the ability to deleverage through unit sales if required.

DCI stepped in after another lender withdrew due to the building’s Grade II-listed status.

Credicus acted as broker on the deal.

“This was a scheme where the fundamentals were clear, but it had fallen out of another lender’s process due to the listed building,” said Michael Clifford, commercial director at DCI (pictured above).

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“By taking a more pragmatic view and really understanding both the asset and the borrower’s experience, we were able to move quickly and structure a facility that works in practice, not just on paper.”

Annabel Crawshaw, director of operations at Credicus, added: “DCI were a pleasure to work with on a recent refinance of a Grade II listed asset.

“We were on a tight redemption deadline, and the client required funds quickly to commence their project.

"DCI are a proactive, solutions-driven team which ensured a seamless and efficient completion.”