10 x 4 Bedroom Detached Houses in Duporth, St Austell
Gross Development Value: £6.96m
Loan Amount: £4.52m
Duration: 21 months
West One Loans were approached to support the development of a borrower's ambitious project. The project involves marketing and selling all properties off-plan, targeting second homes for affluent households.
Despite initial scepticism about the site's size, our borrower saw its potential, purchasing in 2021. Today, the site stands unencumbered with a market value increase of just over 28%! This gave West One great sense of security going forward reducing the risk of any potential loss.
The borrowers intend to market and sell properties off-plan, this gave West One a lot of confidence in believing that to be the best exit strategy.