Returning clients from West Sussex enquired about finance for a potential property development within the coastal town of Wittering, near Chichester. See Sussex.
The developer had purchased an old chalet bungalow close to the beach with the intention of replacing it with a terrace of houses.
Once planning permission for the development had been approved, our client came straight to us for a fast development finance solution. Click here.
The developer had a number of other projects at the time and needed to secure a loan with minimum hassle and delays, making our 5 step lending process suitable.
To yield the highest return from the investment, the experienced developer had received permission for the construction of four terrace properties.
Three of the properties were to be 4-bedrooms, with the remaining unit being limited to a 3-bedroom property.
The requirements of the build were for the properties to reflect the subtle unique nature of the nearby houses.
Hunter Finance assessed the development on its merits, aware of the time constraints on our client.
We were able to send a surveyor to the site quickly, with a loan of £877,500 being agreed. Initial funds were drawn down quickly to ensure the development progressed. See how much you could borrow.
Once the old chalet bungalow had been demolished, development of the four new properties could start. A second drawdown enabled no delay between the demolition and the construction process.
Further, drawdowns throughout the project allowed for a quick and seamless development to take place.
The final GDV of the development was £1,500,000.
Interested in property finance for your next Sussex based project? Call 01825 749721.
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