Specialist debt advisor, Sirius Property Finance, has successfully refinanced a semi-commercial property loan for boutique London property developer, Aitch Group, within four weeks of issuing the terms.

Aitch Group had approached Sirius for assistance in refinancing the £24.4m semi-commercial property loan for Childers Street, which comprises 83 residential units and three commercial units as the current facility was about to expire.

Though Aitch Group typically finances its schemes using high street banks, market conditions impacted by the Mini Budget announcement and Base Rate increases made it difficult for them to provide viable options, necessitating a specialist solution.

Nicholas Christofi, Co-Founder at Sirius Property Finance, worked with Aitch Group to structure a bespoke solution with InterBay, part of the OSB Group, which provided the full borrowing amount at a competitive rate and within the tight timeframe required by the client. This swift completion was enabled by OSB Group's solicitor, Stuart Allen at Paris Smith, who facilitated the drawdown of funds within four weeks of presenting the terms to Aitch Group.

Henry Smith, CEO at Aitch Group, said: “We are delighted with our recent refinancing. The semi-commercial loan, which Sirius Property Finance helped us achieve within a very quick time frame at a competitive rate is an excellent result for us. The Sirius Property Finance team, alongside OSB Group, helped us to find a personalised solution and complete this complex transaction where the High Street banks were unable to.”

Nicholas Christofi, Co-Founder at Sirius Property Finance, said: “This was an excellent demonstration of Sirius going the extra mile to deliver a positive outcome that exceeded our client’s expectations. Aitch Group is an experienced developer with a strong track record, but despite this, it was a very tricky case given the restrictive timescales and market environment. However, by working together with the client, OSB Group and their solicitor, we were able to structure a bespoke solution to deliver the funds required, at a competitive rate and ahead of the deadline. It’s a great example of how real estate debt advisors, working in partnership with their clients and together with specialist lenders, are still able to complete complex deals, even while other avenues appear to be blocked.”