Octopus Property has completed a £5.76m bridging loan on a converted church and nine self-contained residential units with specialist distributor RHL.
The freehold property comprises of a grade II listed Victorian church converted to include 14,000 sq ft of high quality, mixed use commercial space.
The converted church hall will provide nine self-contained one, two, three and four bed apartments.
Ludo Mackenzie, head of commercial at Octopus Property, said: “We are pleased to have completed two large deals with RHL during August.
“As with many of the facilities that we provide, the asset represented a complex loan, which needed to be structured and delivered in a short space of time.”
Tony Hughes, director at RHL, added: “We have a long and successful working history with Octopus Property and both the recent deals were fresh examples of their innovative, customer-focussed approach.”
This is the second loan completed with RHL in a month, with both deals totaling £11m.