The opportunity was introduced by Kelsey Phillips, head of specialist finance at Arose Finance, as several complexities had to be overcome.

The borrower was a first-time developer with no previous construction or development experience, while the site's location adjacent to a railway line required compliance with a Basic Asset Protection Agreement (BAPA).

The scheme also featured an unconventional unit mix, including several five-bedroom apartments, requiring careful consideration of the project's exit strategy and market demand.

"This transaction is a great example of the value of taking a solution-led approach to lending,” said Adam Butler, sales and marketing director at Avamore Capital (pictured above).

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“While the borrower was new to development and the scheme had a number of complexities, we focused on the overall strength of the opportunity and worked collaboratively with all parties to structure a solution that gave the client the confidence to move forward.

“It's another demonstration of how Avamore supports projects that require a more considered approach."

Kelsey added: “Avamore adopted a pragmatic and commercial approach, looking beyond the borrower’s limited development experience and working closely with Arose to address the outstanding BAPA requirements, non-material planning amendments and unconventional unit mix.

“Their support extended beyond simply providing funding and helped provide the client with the certainty and confidence needed to move forward.”