“This transaction shows how flexible bridging finance can step in to provide stability when traditional banking timelines put institutional-grade commercial assets under pressure”
– Anna Thompson – Pallas Capital
Pallas Capital has completed an £8.4m bridging finance facility on a Grade A commercial office and integrated car park in Aberdeen, delivering the 12-month loan within a one-month timeframe.
The 60,000 sq ft office building is a refurbished granite warehouse, modernised through a £16.5m high-specification redevelopment following its original acquisition in 2015. Agreed at 70% LTV, the facility refinanced the property while the borrower awaited longer-term commercial debt.
The deal was led by Anna Thompson, bridging originator at Pallas Capital, who navigated complex commercial valuation and legal challenges to hit the tight completion deadline. With traditional lenders unable to meet the borrower’s timeline, bridging finance provided the breathing room needed to secure long-term refinancing without disruption.
Pallas Capital’s underwriting centred on the strength of the asset rather than a vacant possession value, a decision made possible by the property’s stable tenancy profile. All leases carry zero break clauses and extend beyond the loan term, allowing the facility to be modelled on full market value and serviced comfortably through quarterly rental income.
“This transaction shows how flexible bridging finance can step in to provide stability when traditional banking timelines put institutional-grade commercial assets under pressure,” said Thompson (pictured).
“Our primary focus was maintaining absolute continuity for the building’s established tenants, ensuring their day-to-day operations remained completely undisturbed.”
The transaction was facilitated by broker Raj Vilkhou, director of Express Financial Services, and marks a further step in Pallas Capital’s expansion across the Scottish commercial property market.
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