- Loan amount: £733,000
- Term – 18 months
- Current Market Value – £440,000
- GDV – £1,500,000
Roma Finance has recently seen the successful completion of a transformative 10-bed serviced accommodation property in Liverpool, funded in November 2023. Each room includes modern en-suites and kitchenettes. The redevelopment also featured a large communal living area on the ground floor and a complete overhaul of the property, including the demolition and planned reconstruction of a garage into a modern annex.
The high-end, fully renovated property is now set to serve as a high-spec serviced accommodation, catering to the thriving tourism industry in Liverpool. Serviced accommodation properties like Liverpool are in constant demand, the city’s rich cultural and historical background makes the development an attractive long-term investment for the borrower.
Despite facing initial challenges with damp and structural issues, the extensive renovations have addressed all concerns, ensuring the property’s structural integrity and enhancing its value. The successful transformation has resulted in an impressive £1 million increase in the property’s market value, reflecting the meticulous care involved in the project.
This development is part of a wider strategy by the borrower, who has a strong track record with Roma Finance and a deep commitment to property development in the Liverpool area. Notably, this property mirrors a similar development on the same street, further showcasing the borrower’s extensive experience and expertise in delivering high-quality projects.
Daniel Hill, Senior Key Accounts Manager at Roma Finance, commented: “This project was a pleasure to be a part of. The borrower is consistently professional and a trusted partner, and it’s been truly rewarding to witness the transformation of this property. With their deep knowledge of the market, the success of this project was always a certainty.”
Roma Finance continues to support the growth and development of the serviced accommodation market, helping investors transform properties into lucrative, high demand serviced accommodation.
