Roma Finance aids triple pub HMO conversion
With the help of £240,000 worth of finance over 12 months the three pubs will be converted into 54 rooms between them.
The pubs are in areas where accommodation is at a premium, while the clients are a team of experienced builders and buy-to-let landlords.
Scott Marshall, operations director at Roma Finance, said: “This was an exciting case as it’s always a pleasure to work with clients who not only have vast experience in converting property but also did their sums to make sure the yield calculations were favourable too.
“It was also a pleasure to see unused buildings, in this case pubs, being brought back to life with a positive change of use that will help the growing workforce and the local community.”
Although the pubs were structurally sound, they were in a dilapidated state with led to a specialist lender being required.
The clients comprised of a team of experienced builders and buy-to-let landlords.