Former Pier Hotel – Walton-on-the-Naze

A beachfront hotel, strategically positioned next to the pier, has been transformed into a collection of 17 elegant apartments and three commercial units. This acquisition, carried out from receivership, was marked by a highly innovative approach aimed at mitigating money laundering concerns related to bank financing. We achieved this by forging an agreement with the original developer, resulting in the purchase being secured at a significantly lower cost than the bank's valuation. Our equity injection of £400,000, combined with successful resolution of the Anti Money Laundering Regulation (AMLR) issues with the bank, allowed for the successful funding of the entire project. 
 
Cost Price: £1.5M
Current Value: £4M
Equity/Investment: £400,000
Property Size: 725 SQM
Property description: 17 Flats + 3 Commercial units
Property Status: Apartments
Property Type: Commercial/Residential