Auction Purchase Completed in 14 Days
£890,000 · 14 days · mixed-use building with sitting tenant. A property investor won a London auction lot requiring 28-day completion on a mixed-use building with a sitting tenant.
The Client
London-focused property investor
The Challenge
A property investor won a lot at a London auction requiring 28-day completion on a mixed-use building with a sitting tenant. The tenancy complexity (commercial lease over ground floor, residential AST above) ruled out high-street commercial mortgage timelines.
Our Solution
Doulton placed the £890,000 loan with a specialist lender comfortable with the tenancy structure, valuing the mixed-use asset on a blended income basis. Underwriting, valuation and legals ran in parallel. The lender's solicitor was already known to the auction conveyancer, removing a typical source of delay.
The Outcome
Completion achieved in 14 working days, well inside the auction deadline. The 10% deposit was preserved. The investor subsequently restructured the commercial lease and refinanced onto a long-term commercial investment mortgage. Key highlights: 14 working days - inside auction deadline; Mixed-use tenancy structure accepted on day one; Specialist commercial mortgage exit arranged by Doulton.
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