Recognise Bank has announced completion of an £846,000 bridging loan in West London for the development of a business operations and trading facilities site. The site, which also holds planning permission for residential and commercial space, will enable the Shah Group of companies to relocate and expand its building and construction trading operations, following internal refurbishment. It will act as the new headquarters for Shah Design and Build, and new showrooms for Shah Kitchens and Bedrooms. This will better service their clients in Central and Greater London.
Located in Hayes, West London, an area undergoing major regeneration, Recognise Bank were able to leverage a 70% LTV on the derelict commercial building. This is in addition to structuring the loan with a quick drawn down, just before 2024 Christmas period, which demonstrates Recognise Bank’s commitment to delivering flexible and tailored solutions to its customers, at speed.
Recognise Bank’s expert BDM team, led by Paul Bagan and Lending Manager, Stephen Faulkner, utilised their expertise in OPCO/PROPCO transactions to support the clients winning bid.
This latest deal follows Recognise Bank’s recent completion on a £1.6million bridging loan in Basingstoke and another £1.3million bridging loan in Liverpool’s fabric district, reinforcing its position as a trusted lender for property investors and business owners across the UK.
Paul Bagan, Business Development Manager at Recognise Bank, commented, “We are delighted to have established a fantastic new working relationship Shah Silverdale. Recognise Bank are committed to supporting SMEs across the UK in their growth plans, this loan is a great reflection of that. We look forward to partnering with Jagbir and the Shah Silverdale team again in the future.”
Borrower, Jagbir Singh Dhillon of the Shah Group praised their experience with the bank, “It has been a pleasure to work with Paul, Stephen and the Recognise lending team. Their invaluable support during the loan process filled us with great confidence in their ability to deliver to the specific demands of the deal. We greatly appreciate their speed, communication and flexible approach, in particular given the added difficulties around the Christmas period. We look forward to building on our relationship with them in the future.”
