This loan was structured over a 15-month term at 70% LTGDV, enabling the borrower to progress the scheme efficiently.

Avamore agreed to fund the majority of professional costs and Community Infrastructure Levy payments directly, without requiring formal Monitoring Surveyor interim reports.

The transaction presented several considerations, including a young borrower, although experienced and the fact that the planning permission was due to lapse within approximately two months.

Following a detailed review, Avamore Capital was satisfied that the borrower had a robust plan in place to commence works and preserve the consent within the required timeframe.

"Although this was the borrower's first ground-up development, we were confident in their ability to deliver the scheme,” said Aidan Lesslie, relationship manager at Avamore Capital (pictured above).

•   The Finance Professional Show 2025: The Video
•   Avamore completes £1.5m part-complete facility
•   Avamore completes £3.3m ground-up facility

“The project fundamentals were strong, the location was attractive, and the borrower had demonstrated a clear strategy for commencing works before the planning permission expired.

“It is a good example of how we can support developers at key stages of their growth journey."

The transaction was introduced by Adam Klein, director at Atlas Property Finance Limited.

Adam added: “The [Avamore team], particularly Aidan, Saif, and Owen worked diligently to ensure a smooth process, taking into account the borrower’s young age while recognising their proven track record of delivering successful schemes and the strength of the professional team supporting the project.

“This enabled us to structure a facility that provides strong cash flow throughout the development.

“This deal further strengthens our relationship with Avamore, who have supported several of our clients over the past few years, and is a testament to their solution-driven approach to lending.”