Project completed: December 2019
This week’s featured property is
a spectacular ground-up development finance loan project.
The developer needed funds to
demolish existing, ageing holiday rental homes and a sizeable day one
drawdown. They also needed the funds for 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 and
contractors sourced. They were looking to secure their funding prior to the
planning approval, so could begin the build as soon as possible.
Mint Bridging was able to provide
a development loan of £715,000 over an 18-month term. This was 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. As you can see
from the featured picture, the end results are truly impressive.
No comments:
Post a Comment