Acquisition and Development Facility for PDR Conversion in Rickmansworth

GLPG acted as capital adviser on acquiring and financing an office building in Rickmansworth, Hertfordshire, which, under permitted development rights, will be converted into 57 residential units.

The site, centrally located and benefiting from a strong planning position, was acquired by an existing client. GLPG worked closely with a previously trusted lender to arrange a bespoke development facility, enabling the client to progress swiftly with the conversion works. The transaction was executed within a tight timeframe, where reliability and execution speed were critical.

As part of the deal structure, GLPG also arranged a VAT facility to fund the VAT on the asset purchase. The Capital Advisory team thoroughly underwrote the transaction and proactively mitigated key risks throughout, ensuring a smooth and timely completion

Share

Back to news