Fast action to secure a development site

Background

Our client urgently needed to secure a development site that had planning permission for 7 houses. A fast transaction was required otherwise our client would have lost the opportunity to purchase the site.

Solution

We obtained a holding bridging facility to purchase the land, which provided our client with the necessary funds to complete the purchase within 3 weeks. Upon completion, we obtained the necessary development funding to commence the build without delay.

Bridging to development

Bridging Facility: £650,000

Term: 6 months

Development Facility: £1.65m

Term: 18 months

Funded 100% Build Costs: £900,000