Aquilae Capital completes £1.3m planning bridging loan for Edinburgh aparthotel with TAB

Aquilae Capital has completed a £1.3m planning bridging loan secured against an aparthotel in Edinburgh, supporting the borrower while planning proposals for the site are progressed.

The facility was provided by TAB, which structured a 60% loan-to-value planning bridging loan to support the property during the planning phase.

The transaction was completed within a short timeframe to meet the borrower’s requirements.

The loan allows the borrower to move forward with planning for the asset while maintaining flexibility during the development process.

Matthew Yassin, Managing Director of Aquilae Capital, said:

“With Edinburgh being at the top of Colliers Hotels Market Index, the deal represented very good value for both lender and client.

The team at Aquilae worked very closely with TAB, who were able to close the transaction at a higher LTV than is normally seen for this type of asset due to the demand.

Again, this demonstrates that confidence and sentiment play a large role in the facilitation of funding.”

TAB added:

“This was a compelling opportunity to support an experienced developer on a prime asset with clear planning-led value.

By structuring the facility at 60% LTV we were able to give the borrower the flexibility they needed while maintaining a disciplined lending position.

It was also a pleasure working alongside Aquilae Capital on this and we look forward to this being the first of many deals together.”