Storrington
- £715,000 - Development - 14 Days
The project completed in December 2019
This week’s featured property is a spectacular ground-up development finance project.
The developer needed funds to demolish existing, ageing
holiday rental homes and a sizeable day one drawdown, alongside the facility to incorporate a
long sale period after the build completed. Having numerous projects under
their belt, the developers had a comprehensive build schedule in
place. They
had sourced contractors and were looking to secure their funding, prior to the planning approval, so they could begin the build as
soon as possible.
Mint Bridging was able to offer a development loan of £715,000. This was over an 18-month term on a first
charge, which was ready for drawdown on
planning approval.
The project is now complete with the developments being scheduled to go
on the market this month.
What a fantastic end to 2019. Happy New Year and let us all look forward to 2020!
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