Experienced developers, who we have worked with a number of times before, required a loan for their latest development in the Witterings, West Sussex.
The developer had acquired a large piece of land upon the south east England coast line, near the cathedral city of Chichester. After considering the location, the developer had obtained planning permission for a large luxury coastal property.
Development finance was required for the construction of the luxury 5 bedroom detached property. Hunter Finance provided a loan of £600,000 for the build process to begin and fund that entire project until completion.
Construction of the development progressed quickly, with the property on the market within 11 months of the initial loan drawdown. The luxury layout and location of the property enabled a quick sale once construction was completed.
The final GDV was £1,300,000 as of June 2012.
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