We are able to fund the construction and heavy refurbishment of residential and commercial developments, including new houses or apartments. These can be amongst the most complex projects.
In the context of residential developments, some pre-sales are not required. In relation to commercial projects, any existing or future leases exchanged on the property would be a relevant factor. The borrower’s track record of delivering projects of a similar size and complexity is key for us and a clear and viable exit is essential to a successful prospect.
The typical exit for a residential development is the sale of individual plots or units, the proceeds of which go towards reducing the outstanding interest and capital. In the case of commercial developments, the typical exit strategy is by selling the whole development to investors or via a refinance with a longer term lender. See some recent case studies.