The developer wanted a loan to secure a plot of land in the town of Hemel Hempstead, Hertfordshire. Once the land was purchased the developer wanted to construct a brand new 2 bedroom end of terrace property.
In May 2015, a loan of £130,000 was agreed. The finances for the development were broken down into two parts, £52,000 towards the initial land purchase and £78,000 for build costs. In December 2015 the property was placed on the market with a proposed/marketed GDV of £280,000.
Interest in financing a similar building project?
For cheaper property development finance call 01825 749721. property development funding is available to developers and builders in the South East.
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