Award winning development lender, Regentsmead, assisted a London based developer on constructing a block of seven luxury flats.
The development was acquired by the client for £405,000 and the borrower just required the build costs of £500,000 to complete the works with an estimated end value of £1.4 million.
Works commenced in April and with the prompt financial assistance of Regentsmead, the borrower was able to finish in an astonishing six months.
Before the development
Not only were works completed in record breaking time, but the quality of finish was outstanding, which resulted in all of the flats going under offer within this period.
James Bloom, CEO of Regentsmead, commented: ‘This client is a prime example of how a development should be undertaken with quality of finish maintained throughout and with works being managed correctly which ensured a more than punctual completion.
"We always see our relationship with any borrower as a partnership and are delighted to see that when our extensive experience of providing immediate finance is met with an experienced developer that our mutual goals are met – a win win for all concerned!’