LendInvest provides a £7.5m Development Finance Facility
Written by Dan Lohn
In today’s market, we understand the need more than ever for lenders to take a pragmatic approach, funding large scale projects and allowing investors to maximise capital for their investments. This becomes even more important when there are parts of the deal that others could view as complicated, or in some cases insurmountable.
How LendInvest helped a developer with funding for over 40 new apartments
A client approached LendInvest looking for finance to support conversion of an existing building on the South Coast into residential apartments
The conversion is not without its challenges, the main one being Gateway 2. However, with the developer expertise, and our understanding of the challenges this can bring we were able to work with the team to complete on a facility for over £7.5 million, structured at 68% LTGDV over a 24 month term.
Dan Lohn, Relationship Manager at LendInvest said: “We are delighted to be assisting this new client to LendInvest with a facility that will see the sympathetic, but much needed redevelopment of a former educational building on the south coast, to provide 41 apartments.
We are always keen to take a pragmatic approach to lending, and in this instance we are working with a deeply experienced team who understand and have a proven track record of dealing with this process, and the complexities that come with it.
We are excited to be off and running, and cannot wait to see the rejuvenation of this building take place.”
At LendInvest we believe that experienced clients should be able to access the funding they need for their well thought through projects. That’s why we aim to Cut the Complex for property developers.
How LendInvest Development Finance could support your project
We can consider ground up, heavy refurbishment, conversions and new-build schemes, including:
- Up to 70% LTGDV
- Maximum 85% LTC
- Planning gain considered as part of day 1 land loan leverage
Supported by our end-to-end service, and our experienced relationship management team including our in-house chartered building surveyor, speak to us today to discuss your proposal.
Find out more: https://www.lendinvest.com/capital/development-finance/