The deal will be supported over a two-year period with the total GDV estimated at around £28 million. 

The loan has been structured to draw down £5 million on day one, and a further 100 per cent development costs agreed at £13 million over the two-year build project. Zed Lorgat, who heads up JM Financial Securities, said: "I am extremely pleased for my client who has been searching for suitable funding for some time, eventually being introduced to us by an Investment Broker thus allowing us to structure the transaction successfully." 

There have been a number of interested parties already, including an overseas property investment group that is showing strong interest in purchasing the property. 

The facility was funded by a private equity fund, although early negotiations indicated that the project was to be funded by a  collaboration of a bridging lender and an investment fund. 

Financier and consultant, Zed Lorgat, who heads up the Packager, has been hands on with the deal and the prospective plans for the property. JM Financial Securities provides an array of alternative finance options, including both bridging and development finance, however  also specialises in commercial and residential investment portfolio building. 

The packager has worked with industry lenders before, such as Blemain Finance and Dragonfly Property Finance.

 The firm comprises of a team of four alongside Zed, including two advisers and two members of admin staff. The packager predicts it could take on one to two more self-employed advisers this year.

 Also, BCD understands that the packager is currently in talks with practitioners to introduce unique products from a recently launched lender who will consider discharged bankrupts. More news on the £13 million deal as it unfolds.