Led by relationship manager George Ormerod, the deal required careful structuring to align the borrower’s expectations with the valuer and monitor surveyors’ figures.

The loan was structured to provide competitive leverage while maintaining a prudent risk position, enabling the borrower to move forward confidently with the project.

However, the transaction also faced delays due to restrictions on the title, with a licence required before funds could be released.

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Ed Blundell, head of underwriting at Avamore Capital (pictured above), played a key role in structuring the facility and managing the complexities involved.

Commenting on the transaction, Ed said: “Development finance often requires flexibility and collaboration.

“By working closely with the broker and borrower, we were able to structure a solution that addressed valuation challenges and title restrictions while maintaining strong underwriting discipline.”