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Finance specialist secures luxury development

Finance specialist secures luxury development



Property development specialist Davon Ltd has assisted the redevelopment of two adjoining properties in Fulham .


Property development specialist, Davon Ltd, has assisted the redevelopment of two adjoining properties in Fulham.

Two high quality six bed homes and generous living accommodation were created in the 3,200 sq. ft. gross internal area on a prime residential street in Fulham.  

The developer required a mezzanine facility to complement the existing senior debt provided by one of Davon’s preferred debt lenders.


Davon provided a mezzanine facility of £500,000 which completed the funding required combined with the senior debt and the developer’s equity contribution.


The facility was provided on normal Strata Fund terms with the formal valuation and monitoring surveyor reports co-addressed to the senior lender and Strata Fund.

The flexibility of the facility gave the developer the ability to release a significant level of equity and allow for further site acquisitions to be progressed through the remaining duration of this project.

 



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