100% Funding for Property Developer in Manchester
Finance Requirement
Our client required us to organise funding for 100% of the costs including the land purchase and all associated build costs and professional fees.
Location
The site is a flatted scheme located on the outskirts of Manchester with planning permission for 26 flats.
The site is being built by an experienced house builder – however, the site is complex with a steep gradient.
The Interesting Stuff
We sourced 100% of the contribution to the senior debt loan with just over £700,000 of funds advanced.
This was on a 50/50 profit split over an 18-month term.
Our JV funder is an institutional provider, which was essential here in the deal, bringing together technical knowledge to not only get the site purchased but to develop a long-term funding partnership.
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