DNG Kidderminster Properties Ltd

Kidderminster, Worcestershire

With peer-to-peer funding through Assetz Capital, DNG Kidderminster Properties Ltd were able to refinance a previous loan taken with ourselves, and release equity from their buildings to acquire additional sites.

1,056

£1.4m

£1,293

Intro

Nick Sellman, Director of DNG Kidderminster Properties, is an experienced developer leading the building transformation and has been undertaking residential conversions since 2008, including successfully creating 12 units of an office space in Milton Keynes.

The bridging loan repaid the investors of the existing £290k loan that was used to assist the purchase of two buildings in Kidderminster in which the top three floors were converted from office space into 37 flats, and released equity from the buildings to acquire additional sites.

DNG Kidderminster Properties Ltd
DNG Kidderminster Properties Ltd

Impact

With a further planning application granted for the ground floor of the buildings in Kidderminster to be converted from commercial units to residential, the next step is to let the units and refinance into a commercial BTL mortgage.

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