Specialist development lender Regentsmead has completed the funding on three new build flats in Bristol…

 Case study fact file:

Site cost: £75,000

Build Cost: £125,000 

GDV: £375,000   

Increase of £20k agreed same day  

Regentsmead has funded a developer on his first project after having been in construction for over ten years and deciding he wanted to take on a development project of his own.   

The developer found Regentsmead while seeking finance to build three new flats after buying a plot of land with planning permission in Bristol just over a year ago.

Regentsmead’s Ashley Ilsen commented: “We’re slightly old-fashioned in that we like to build long term relationships with all our borrowers. It’s always hard for a first time borrower to use our services as there is no relationship and there is an element of trust building.

“Thankfully Lumini Developments have given us a chance to show what we can do and in return they have built a superb end product. Looking forward to the next one already!” The borrower, Harley, concluded: “I received great service all the way through. Regentsmead are a dream come true and I couldn’t have done it without them.”  

One of the flats has now been sold and the other two are expected to be bought within the next two months.   

You can view the video on both the homepage of DFT and Regentsmead’s own development channel, Regentsmead TV.