Development of 30 flats with commercial. £10m GDV

Posted by Keystone Wealth Management Ltd on 29th July 2019 -

This project is currently at the planning stage. Lenders will not provide development funding until full planning has been approved. In this instance, the client was contractually obligated to complete within 10 days of planning approval being granted, which meant I had to secure a lender that was amenable to proceeding without planning at this stage, on condition that no funds are drawn down until planning is in place.

 

Photo credit: Bernard Hermant on Unsplash