Lendhub was approached by Simon Osborne to assist with financing their client’s ground-up development in Westerleigh, Bristol.
The client will utilise Lendhub’s £3.98m development facility for the purchase of a greenfield site, and to fully fund the development of eight 4-bed homes, resulting in a GDV of £5.69m.
Lendhub’s Max Herman and Sally O’Loughlin worked closely with Simon Osborne in ensuring Lendhub was able to provide 100% of the development costs, providing the £3.98m facility at 70% LTGDV on an 18-month term.
The client will exit through the sale of the units, which should be a breeze considering the desirable location and high residential demand reported in the area.
The Lendhub team would not have been able to get this over the line without the help of our trusted solicitor partners Spector Constant & Williams, notably Jaz Tott and Nishi Sumaria whose expertise ensured a smooth transaction occurred despite the complexities and intricacies involved in this case.
Thank you to all those involved, and we thoroughly look forward to seeing this scheme come to life.
