The Client:
An experienced property developer operating through a limited company, this client had demonstrated a strong track record of delivering high-quality developments. Their experience and reliability gave confidence in both the project vision and execution capability.
The Situation:
The developer had secured a complex land acquisition comprising 12 separate titles for the development of 46 townhouses.
The project required £13.5 million in development finance at 65% LTGDV, with potential to uplift the facility to accommodate an additional 4 extra units upon completion of an additional title purchase. The client needed certainty of funding within three months to meet their land acquisition deadline.
The Solution:
We structured a £13.5m development finance facility at 5.50% + BBR over 30 months.
Recognising the client's growth ambitions, we built an uplift option into the agreement from day one, allowing the facility to increase to around £14.7m when the additional title completed which would also see the project extend from 46 to 50 townhouse units. This would eliminate the need for a separate application later.
Through streamlined decision-making and our established relationship with the developer, we delivered completion within their expectations.
The Benefit:
The built-in uplift provision eliminated uncertainty and delay typically associated with expanding developments.
The Result:
The developer secured comprehensive funding for a 46-unit scheme with an integrated pathway to expand to 50 units within a single, tailored financing arrangement. The term and built-in flexibility reflected the genuine demands of the project, demonstrating our capability to structure large, complex development finance solutions underpinned by close working relationships and commercial decision-making.
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