In a recent financial move, Interbay has successfully finalised an £8.2 million re-mortgage for a mixed-use property located in Brentwood, Essex. The property, comprising 19 units with seven commercial spaces on the ground floor and 12 residential flats above, represents a strategic blend of business and living spaces within the community.

The transaction was facilitated by Aquilae Capital Advisory, overcoming certain hurdles such as the vacancy of four commercial units which initially placed the property outside of Interbay’s typical semi-commercial lending criteria. Despite these challenges, the deal was structured with a £5.55 million loan at 67% loan-to-value (LTV) over a ten-year interest-only term, successfully completed within a swift two-and-a-half-month period.

Matthew Yassin, Managing Director at Aquilae Capital Advisory, commended the collaboration with Interbay, highlighting the lender’s extensive expertise and understanding of commercial real estate finance. This successful venture not only underscores the flexibility and resilience of both parties involved but also contributes to the economic vitality of Brentwood by supporting a property that blends commercial and residential use.