AREA: Bristol
AMOUNT RAISED: £4,800,000
PRODUCT USED: Development Finance
We understand that property development can be complex, even for seasoned professionals. Our expertise lies in connecting clients with the right funding solutions, ensuring smooth project execution from start to finish.
Client Scenario
Our client, a property developer with 25 years of experience in various residential projects, approached us with an urgent funding requirement.
They were planning to develop a mixed-use scheme in Bristol, consisting of 18 units: 6 three-bedroom townhouses, 8 two-bedroom flats, and 4 commercial units on the ground floor. The project was ready to break ground, but the developer needed swift financial backing to keep their construction team on schedule, having been let down at the last minute by their bank.
Funding Solution
After carefully assessing the client’s needs, we determined that a tailored commercial development finance package would be the most suitable option. We set to work, leveraging our extensive network of lenders to find the perfect match.
Key details of the funding package:
- Loan value: £4,800,000 (phased funding)
- Gross Development Value (GDV): £7,500,000
- Loan term: 24 months (18-month construction period, 6-month sales period)
Our team of experts, working alongside experienced surveyors and construction specialists, processed the application with remarkable efficiency. Despite the project’s complexity, we secured funding approval within three weeks.
Final Outcome
The quick turnaround allowed our client to commence construction without too much delay. Throughout the development process, our team remained on hand to offer support and guidance, ensuring the project stayed on track both financially and operationally.
The developer successfully completed the project within the agreed timeframe and budget. The mixed-use nature of the development proved attractive to buyers and tenants alike, with all residential units sold and commercial spaces leased within four months of completion.
This case shows our commitment to providing tailored financial solutions for property developers.
By combining our financial expertise with a deep understanding of the property market, we were able to quickly identify and secure the most appropriate funding solution. Our efficient application processing saved valuable time for our client, while our ongoing support throughout the development process ensured the project stayed on track both financially and operationally.
Ultimately, our involvement contributed to the successful completion and rapid sale and lease of the project.
Our client, despite their extensive experience in the industry, was impressed by the speed, efficiency, and personalised service. This successful collaboration has led to a lasting professional relationship, with the client returning to us for funding on subsequent projects.
Let’s talk development finance!
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