A £3.1m loan has now drawn down, allowing the acquisition of a site in the Cotswolds via share purchase. The site has a total GDV in excess of £30m, and development funding will be provided in 3 months in order to commence phase 1 of development.
A first tranche of funding has been provided to an experienced developer in Liverpool to refinance a partially constructed residential tower. The initial advance of £4.15m also provided funds to commence the build with construction already underway.
A further £460k has now been provided to a developer progressing a three-unit, high-end site on the Cotswold Water Park. Two further tranches are due to draw down in 2019 with the development now well underway.
£1.575m has now drawn down on a residential development in Ascot as a third tranche of development funding. The 12 unit, luxury scheme is due to be completed in 2020.
An initial advance of £1.5m been provided to a developer to commence development of a care home and assisted living bungalows in Perth and Kinross, Scotland.
The nearly completed student accomodation in Liverpool is due to repay in June 2019 with 100% of the units now pre-sold. The mezzanine funds will cover all final development costs allowing for a successful exit.