Case Study: Successful Transformation of a Shared Residential Rental Property in Dublin 7
Onate has been providing loans where borrowers aim to purchase properties in need of refurbishment. The borrowers then typically reconfigure these properties to maximise bedroom and communal living space.
In early 2023, a property investor identified a residential property in Dublin 7 with potential for shared living accommodations. Their intention was to fully refurbish the property so it appealed to modern renters.
The project needed quick access to funds to secure the property in a competitive market and to commence work promptly.
The property investors strategy was to sell the property once the works were completed and rental income was established.
Recently, the property sold for a handsome profit, which the borrower can reinvest in their next project.
Onate provided a tailored financial package to address challenges:
Transactional Certainty: Leveraging Onate's strong capitalisation and funding from various financial institutions
70% Funding of Purchase Price: Onate funded 70% of the purchase price, significantly reducing the developer's initial capital commitment
Fast Funding Release: Onate's agile and efficient processing ensured quick access to funds, allowing the property investor to close the purchase and start refurbishment promptly.
The financial solution provided by Onate led to several positive outcomes:
Reviving a property in poor condition: The project brought a substandard property back into the market
Economic viability: Onate's funding made the project economically viable, promising a strong ROI upon completion
Community benefit: refurbished units helped alleviate local housing shortages, providing high-quality living spaces in a prime location.
Onate's bridging finance solution showcases the pivotal role of tailored financial products in unlocking the potential of real estate investments. It highlights how strategic finance can drive urban renewal and contribute positively to the housing landscape.
For those ready to explore new opportunities and in need of a financial partner, contact John Ring at john@onate.com / 087 830 5276 or Michael Gavin at michael@onate.com / 085 145 4200.
