Bridging
E SSE NT IA L NEW S O N S HORT T E RM F UN D I N G April 2009
The Best Deal
Bridging Finance Limited recently
provided the funds for Kuis PLC to
complete their acquisition of what
We’ve Ever Seen! could be the best value commercial
property investment in the UK!
ictoria Hall in Barrow-in-Furness was record of successful commercial acquisitions and
V purchased by Kuis PLC at an Allsop auction for
the incredible price of £110,000. This figure is
remarkable given that only 2 years earlier the Hall had
developments throughout the North of England,
including the Swan Hotel in Bolton and the Europa
Industrial Estate in Grimsby, the latter being acquired
undergone an extensive programme of refurbishment for £4M and currently valued at £13.5M. The property
and restoration to the tune of £2M. expertise of the Kuis PLC team was in evidence once
again when they began marketing for tenants at
Located close to the town centre with easy access Victoria Hall.
to all local amenities, Victoria Hall is a fully restored,
Grade 2 Listed office building of 13,500 square feet. Having made huge savings on the purchase of
The hall’s previous occupiers were a local charity who the property, Kuis PLC were able to significantly
went into liquidation in 2007. The property was in the undercut their local competition on lease costs.
hands of administrators at the time of the auction, Whilst most suppliers of commercial office space in
and after making their winning bid Kuis PLC applied the district were offering £8-10 per square foot, space
to Bridging Finance Limited for rapid access to the in Victoria Hall was made available from only £3.50
£90k they required to complete on the transaction. per square foot. Within three months all available
Based on our existing relationship with the firm we space had been leased to quality tenants from a wide
were happy to come on board and we advanced variety of sectors including accountants, opticians,
the required funds within 5 working days. The extent recruitment consultancies and the region’s leading
of the bargain that Kuis PLC had obtained was urban regeneration organisation. Victoria Hall is
confirmed when our surveyors returned a valuation of now producing a total rental income of £66,400 per
four times the price that had been bid! annum.
Kuis PLC are a Bolton based property management Chris Baguley, Managing Director of Bridging Finance
and consultancy firm with an impressive track Limited said, “This has proven to be far and away
“The acquisition and marketing of Victoria Hall has
the best value commercial property purchase we
proved to be a great advertisement for the expertise
have ever seen. The returns being produced
on offer at Kuis PLC, and should help to generate
at Victoria Hall are amazing given the
considerable interest in their consultancy services.
initial purchase price, and the fact
We thoroughly enjoyed working with them and look
they are being achieved whilst
forward to developing our relationship and working
still providing such superb
together on more property acquisitions in the future.”
value for the hall’s tenants
makes them all the more
Commenting on this latest successful addition to
impressive.
the Kuis PLC portfolio, Director Paul Kiely said,
“Our investment in Victoria Hall has been a fantastic
experience from the beginning and I really believe
it was meant to be. The superb price for which we
secured the property allowed us to take it forwards in
a way that has provided outstanding value, not only
for Kuis PLC but also for Victoria Hall’s new tenants.
“We worked hard to target established businesses
that may not have been actively seeking new
premises. We argued that in the current economic
climate they owed it to themselves to make sure they
were occupying the best value office space in the
area. The response was fantastic and we could have
filled Victoria Hall four times over.
“We are grateful to Chris Baguley and his team at
Bridging Finance Limited for providing the funding
facility required to complete the purchase of Victoria
Hall quickly and smoothly. We have worked with
Bridging Finance Limited in the past when refinancing
some of our long term arrangements and have
always been impressed with the fast, reliable and
customer focused service they provide. I look forward
to developing our relationship and they will be our
Chris Baguley of Bridging Finance first port of call when Kuis PLC next requires a short
Limited and Paul Kiely of Kuis PLC term funding facility.”
Do you have a client with short term funding requirements? Call us now on 0845 337 5811
Bridging Finance Limited
Sponsors Charity Climber
Bridging Finance Limited was pleased to sponsor
Trevor Edwards of Unique Consulting Solutions
for his participation in a recent ‘Climb Everest’
event in aid of the 5 Stars Scanner Appeal.
The 5 Stars Scanner Appeal is raising £1M to Commenting on the day, Mr Edwards said:
provide a much needed replacement MRI scanner
for The New Manchester Children’s Hospital. The “A lot of us novices approached the day with
state of the art scanner will cut the time of a scan trepidation, but in the end we had a great time
from 45 minutes to 15 minutes, allow doctors to and everyone enjoyed the challenge, even those
diagnose cancer and cancer related illnesses with a fear of heights! The staff of the Manchester
earlier and enable them to provide treatments that Climbing Centre were great and with the help of our
will ultimately save children’s lives. sponsors like Bridging Finance Limited we have
made a good contribution towards the charity’s
The ‘Climb Everest’ event took place on the first overall target. Anyone wanting to support the
weekend of March at the Manchester Climbing appeal can donate online on the charity’s website.
Centre. A number of teams pooled their efforts to All contributions will be gratefully received.”
climb a collective distance of 8,850 metres, the
same height as Mount Everest. For more information please visit
www.fivestarsappeal.co.uk
By the end of the event the teams had achieved
a total of 10,964.5 metres - a fantastic effort that
took them past their target by 24%. Trevor on the wall at the
Manchester Climbing Centre
Quality Client Care
spotlight on our
M2 Consulting Bridging Finance Limited is focused on the
professional sector. Our levels of speed, efficiency
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M2 Consulting is a leading change consultancy, specialising in survival, business development and
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In the current severely difficult economic climate our Partners can provide a lifetime’s experience which
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Chris Baguley Paul Hughes Leanne Higginson Daniel Hill Tracey Mellor
Managing Director Corporate Development Manager Senior Underwriter Case Processor PA to the Managing Director
07788 970694 07903 560742 0845 337 5811 0845 337 5811 0845 337 5811
chris.baguley@bridgingfinance.co.uk paul.hughes@bridgingfinance.co.uk leanne.higginson@bridgingfinance.co.uk daniel.hill@bridgingfinance.co.uk tracey.mellor@bridgingfinance.co.uk
Fax 0845 337 5801 E-mail mail@bridgingfinance.co.uk Address Bridging Finance Ltd. Bracken House. Charles Street. Manchester. M1 7BD DX-14447-Manchester-2