Successfully secured favourable funding required for refurbishment project
Property Refurbishment Funding
Key outcomes: Our client, who owns and operates a hotel (pub), saw the need to reconfigure and refurbish the hotel to improve the performance of the asset. However they found it difficult to prepare financial forecast and budget of the works in the correct manner to present to the bank, in order to obtain the required funding.
Balanz was able to assist by gaining an understanding of the works and more particularly the impact these works would have on the trading performance of the hotel. We were then able to prepare the finance request in a format that the bank understood and would accept.
This client now has a new $1.4M construction funding loan in place and the refurbishment works are well under way. The first stage of this was a new beer garden which has already been completed and has been well received by the local community.