Mr W-J – Middlesex
- Development & Bridging
We were approached by Mr W-J who had two exclusive development projects. One project required over £12m funding and the other project required circa £6m. When Mr W-J approached us planning had still not been fully granted but there were strong indications that planning would be passed in the very near future. Besides the planning issues, the main challenge was that the developer, although highly experienced, required 100% funding for the projects. Under normal circumstances and with the usual high-street Lenders, this would of course have been a “non-starter”. Having cultivated the ability to think differently and approach challenges in differing ways we were able to find an answer (a solution?), albeit for just one of the projects initially (?).
Being able to access the main funding, with added mezzanine (top-up) finance to 80% of the total land purchase and build cost, we were also able to approach some of our private investors who were happy to provide the remaining 20% funding. 100% funding is now in place and we now await planning to be accepted (?) – or – and planning permission has been achieved. (?)
Thankfully, with this experienced developer, Mr W-J was able to deliver all the information required in full and in an accurate and timely fashion, ensuring funding was delivered smoothly and fast-paced.