Property: Slough, Berkshire

Purchase price: £5,959,000

VAT facility: £1,191,800

Loan term: 90 days

Transaction date: 28^th February 2025

 

BloomSmith has delivered an unsecured £1,191,800 loan for a commercial property acquisition in Slough.

As the final part of a £5,959,000 purchase of an office block that will be converted into 67 apartments, the VAT bridging loan delivered cost-effective and timely access to funding.

The deal was delivered in partnership with the Dubai-based brokerage propX, which specialises in data-driven international real estate transactions.

Speaking on the deal, propX co-founder and CEO Guelane Mansour said: “Financing a deal of this size is a testament to propX’s ability to structure complex cross-border real estate transactions.

“This deal wouldn’t have happened without BloomSmith’s unwavering support, commitment, and ability to navigate the inevitable pitfalls of development finance for overseas buyers.

This is not our first deal with BloomSmith and as always, we were grateful for their legal partnership with Ella Leonard of Fladgate.”

Nigel Smith, BloomSmith CEO said: “This is a prime example of how BloomSmith’s VAT funding provision can deliver specialised funding that’s tailored to overcome the complexities of funding for overseas buyers and the need to assist with navigating HMRC processes.

“For overseas buyers, in country leverage is always going to provide greater certainty as compliance regarding international money transfers and FX fluctuations can negatively impact on costs.

“Guelane and propX can make a big difference to both their client’s bottom line and stress levels, and we are always happy to assist.

“The client can now ensure that their capital remains in their pocket, so they can focus on delivering the next stage of this exciting development.

“Thank you to Guelane, the propX team and all other parties involved for enabling this smooth transaction.”

You can also see if you qualify for a loan via our VAT Bridging Loan Eligibility Checker.