Surrey is a prime development area.
This is because it has close travel links into London and is close to the best independent schools.
The contractors had acquired an old farming property located in Hobbs Farm, Surrey.
However, the residential dwelling needed a lot of construction work that needed to be split into two phases.
The idea was to convert the original three Grade II listed barns and develop them into three new build properties.
The second part to the development project was to convert a second, separate Grade II listed outhouse into one, huge property.
For both development projects and phases to be completed, the buyer needed funds to finance the new build development.
Hunter Finance, in this case, provided a property development loan of £1,200,000 to cover all the building costs associated with the new build construction and conversions of the four properties.
Have a project you need funding for? We offer highly competitive rates on all residential development finance options, telephone 01825 749721. No brokers fees.
Each of the three properties that were converted from old barns sold very, very quickly. All of the new builds had either sold on or above their asking prices. For our tips on how to become a successful property developer, click here.
The final conversion, which had been completed last also sold very fast.
This took their grand gross development value to an astounding £2,400,000.
Deciding if development is right for you can be a difficult choice. And more often than not, individuals who own a piece of land quickly sell it on to developers without knowing their options. Yes, land is valuable, but you can yield larger profits if you develop a site yourself.
Hunter Finance lends to both big and small businesses, we’ve helped many first-time, inexperienced developers get their property off the ground and they are so much happier for doing it – some have even become millionaires in just under twelve months
Check our lending criteria to see if you’ll be able to start funding your next development project. We lend from £100k to £2.5m.
With no middlemen in the way and no broker fees, Hunter Finance is able to make faster and quicker decisions so you can progress with your project with no further delay, or missing out an opportunity to secure land. Our loan decisions take up to 48 hours and save our clients time and money.
For any further advice about planning consent, buying or selling land, or building developments in Surrey visit Surrey County Council – Land, planning and development.
For more successful properties that we’ve helped finance click here. Or if you’re ready to start your new property development project, call us on 01825 749721 or use the button below to get in touch with us today: