Recognise Bank completes £401k commercial bridging loan for Dundee office asset

09 April 2026

Recognise Bank has completed a £401k commercial bridging loan to support the refinance of a multi-let office property in Dundee.

The facility was agreed for an experienced property investor and developer with a strong track record spanning nearly three decades, particularly in the conversion of licensed premises into residential use. The borrower required funding to refinance from an existing lender, including the repayment of an early repayment charge, while restructuring ownership of the asset into a newly formed special purpose vehicle (SPV).

Introduced by Harry Baker of Aura Capital, the 12-month facility was completed at 67 per cent loan-to-value (LTV).

The security comprised of a multi-let commercial office block in Dundee city centre, which was an established location benefiting from strong transport links and a diverse mix of residential, educational and commercial demand.

While the transaction itself was a refinance, the case required careful consideration and a coordinated input from lender, broker and borrower to ensure the facility supported the borrowers’ future plans. The collaborative working relationship between all parties ensured a smooth process to completion.

Tom Ravenscroft, Lending Manager at Recognise Bank, said:

“This was a well-structured case supported by a highly experienced borrower with a clear strategy for both the asset and the exit. By understanding the nuances of the ownership structure and the disposal plan, we were able to deliver a solution that met the client’s requirements within the necessary timeframe.”

Harry Baker, Director at Aura Capital, added:

“We required a lender that could understand the quality of the asset, its mixed tenancy profile, and the restructuring of ownership into the client’s new group structure. Having worked with Recognise on several deals, I knew they would see the case's strengths from day one, fully appreciating the client’s track record with the asset and applying a genuinely commercial approach to underwriting.

The team at Recognise Bank did exactly that - they were engaged from the outset and delivered with real certainty. Aura Capital looks forward to progressing its pipeline with the bank and appreciates the support from the Recognise team to date.”

Recognise Bank continues to support experienced borrowers with flexible bridging solutions across both residential and commercial assets, offering a straightforward approach backed by direct access to decision-makers.

To learn more about Recognise Bank’s commercial property lending, visit:
https://recognisebank.co.uk/