Pallas Capital completes £8.4m commercial bridging loan in Scotland

04 June 2026

Pallas Capital has finalised an expedited £8.4 million bridge for a premier commercial office and integrated car park asset in Aberdeen, Scotland. The 60,000 sq ft Grade A office building is a refined modern structure, refurbished from an historic granite warehouse. The 12-month loan was agreed at a 70% LTV, facilitating the smooth refinance of the property while awaiting a longer-term commercial debt.

The deal was led by Anna Thompson, Bridging Originator at Pallas Capital, who successfully managed the complex commercial valuation and legal hurdles to secure completion within a rapid one-month window.

Originally acquired in 2015 and subsequently enhanced through a comprehensive £16.5 million high-specification redevelopment, the property serves as a prominent business hub that remains consistently let to established corporate tenants. While the borrower secured terms for long-term refinancing, traditional banking delivery timelines could not meet the immediate deadline, prompting Pallas Capital to provide a swift bridging solution.

To meet the tight one-month deadline, Pallas Capital focused its underwriting process on the fundamental strength of the asset. Because the property features stable, long-term leases with zero break clauses extending past the loan term, the facility was modelled on full market value rather than vacant possession, allowing the debt to be comfortably serviced by quarterly rental income and protecting the tenants from disruption.

Anna Thompson, Bridging Originator at Pallas Capital, commented:

"This transaction shows how flexible bridging finance can step in to provide stability when traditional banking timelines put institutional-grade commercial assets under pressure. Our primary focus was maintaining absolute continuity for the building's established tenants, ensuring their day-to-day operations remained completely undisturbed."

This project marks a significant milestone for Pallas Capital’s growth across the Scottish commercial property sector, facilitated by the expertise of broker Raj Vilkhou, Director of Express Financial Services.