The client is an experienced property developer whose latest project was the conversion of a stunning, historic, listed building into eight luxury apartments.
The client had self- funded the project to around 40% completion. However, the client had sold 5 of the apartments off-plan and was therefore keen to complete the build as soon as possible to complete the sales and realise a strong return.
Therefore, to speed up the completion of the project, the client required funding. The lenders funding is speedy, streamlined, and easy to draw further funds when needed.
The lender provided funding of £1,053,050 in four drawdowns with further tranches provided in line with the client’s schedule of works.
The lender concerned did not need a Quantity Surveyor and had a unique Development Finance product.
Property Type: Listed Building
Funds For: Development
Timeframe: 4 Stages
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