Five key VAT bridging loans 2024

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.

£3.04m loan on Westbourne Terrace

BloomSmith delivered a VAT bridging loan for a property purchase on Westbourne Terrace in Paddington for the specialist hotel group Capilon Hotels on 24th May 2024.

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

£1.8m loan in Buckinghamshire

In early May, BloomSmith delivered a £1,800,000 VAT bridging loan as part of a large industrial property purchase in Buckinghamshire.

Financing the VAT of this £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

£1.04m loan in Leeds

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.

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 

£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

£497,000 loan in Windsor

In early May, BloomSmith delivered a 120-day £497,000 VAT bridging loan for a Windsor industrial property purchase.

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

If you want to learn more about our VAT bridging loans, you can contact our team today.

You can also see if you qualify for a VAT bridging loan by using our eligibility checker today.