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hertfordshire

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north london

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north east england

hertfordshire

Overview

Our client started a large housing development project. They had secured an option to purchase the land at the fixed price of £7 million for the site which was worth substantially more with planning.

Challenge

The client had previously been offered the full funding with a broker, however, they were required to give up 40% of the profits. After our research and an estimate that the site was worth more with planning, we were comfortable funding the purchase in full. Development costs were £70 million and the gross development value (GDV) was £120 million.

Solution

So, we funded the full £7 million and all of their development cost. Due to the uplifted value after planning, we decided to fund 100% of cost, and it was a good decision! Finally, we did not require any equity stake in the scheme.

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north london

Overview

The client owns two large properties in North London. The existing long-term mortgage was £8 million, and the existing value was £12 million. The client was in the process of building new high-quality apartments.

Challenge

The requirement was to repay the client’s existing debts and thus enable them to facilitate the development. Due to the restrictive debt that remained, brokers were unable to secure the initial debt to allow this to happen. Development costs were estimated to be £12 million and the Gross Development Value (GDV) was £34 million.

Solution

After our research, we came to the conclusion that the development still worked, despite the £8 million initial debt. We offered a solution and financed the existing mortgage at £8 million (66%) and the development of £12 million in full, bringing the total facility amount to £20 million.

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north east england

Overview

The client had just started a site acquisition process for a mixed housing development project. Site acquisition cost £6 million, the build cost was estimated at £12 million and the total deposit was £1.8 million.

Challenge

The developer’s existing bank required them to invest £6m into the scheme, while the developer’s budget was £4million.

Solution

Initially, we decided to fund the £2 million for the site, and the full development cost, which allowed the developer to build the current development and also enabled them to do a second development, which we also funded.

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