A Local Developer Finds Land With Potential
A local developer found a farm plot with attached cottages, outbuildings and 7 acres of land. The developer was well known in the area and fully understood that the plot had great potential. Although he was very experienced with projects of this size, his bank would not lend him the funds needed, even though the purchase price was significantly below market valuation.
We assessed his needs and managed to help find a quick solution that meant he was able to acquire the development finance required within days. The developer then successfully applied for the planning permission required to build additional properties on the land thus making a substantial gain on his original investment. Half the properties were sold to repay the bridging loan and the remainder were kept to help fund future developments and as an eventual pension pot.