Development Finance Raised for New Developer with No Past Experience
Case Study Category: Development Finance
Here at UK Property Finance, we usually find ourselves organising fast and reliable development finance solutions for the more experienced developer. However, we were recently approached by a pub landlord who had no prior experience in the development sector who was looking to turn his attention from running a pub to becoming a successful landlord.
The pub itself was situated half a mile from a nearby polytechnic in the Greater Manchester area and although it had proved a popular haunt in the past – the business was now proving to be costing our client much more than he was making. His initial brainchild was to turn this dying venture into an affordable block of apartments which would be prove to be very popular amongst local students whilst also being highly profitable.
Although the landlord had tried to finance his redevelopment project using funds acquired from high street sources, he found his applications were being met with little interest and even less success. This is precisely where the team at UK Property Finance were able to help.
As leading development finance experts, we were able to streamline our clients application to perfection and make his idea appear highly attractive to potential lenders – many of whom we enjoy exclusive partnerships with. With due diligence and our extensive experience in sourcing short term development finance for clients of any conceivable background, we were able to source practical funding in a matter of two weeks – which enabled our client to proceed with his dream of becoming a landlord of a very different kind!