London based investment service Topland lent £100m worth of bridging loans in the first half of 2015.
One deal was a £10m loan to Williams Group in Essex to acquire agricultural land in Harwich. Planning consent was later granted for a 90-acres mixed-use scheme, including 297 residential units and over 500,000 square foot of commercial space.
Topland also provided £9m to a Kent businessman against Hythe Imperial Hotel and construction of 29 houses in Hythe, Kent, with combined gross development value of £20m.
Sol Zakay, Topland’s executive chairman and chief executive, said: “We are seeing increasing demand for commercial real estate bridging loans from clients who are seeking quick decisions and who appreciate Topland’s expertise in commercial property investment and asset management.
“The figures reflect the company’s ability to look at a diverse range of assets and the flexibility of its terms.”