The development loan will be used to support the construction of four residential units, which all benefit from sea views over the English Channel.

The borrower, who was undertaking their first ground-up development project, did not fit the traditional “tick box” lending profile.

However, BLEND employed a relationship-led approach.

Demolition of an existing building on the site has already been completed with construction now progressing on track.

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“This was a great example of backing the right person as much as the right project,” said David Alcock, managing director at BLEND.

“While this was their first ground up development, we believed strongly in the team behind the scheme and in the fundamentals of the location and product.

“Development rarely runs without challenges, but the way those challenges are managed is what matters.

“We’re pleased to have supported the borrower early in their journey and to see the project progressing so well.”