Adapt and Amicus

Development broker arranges £4m facility for PD scheme



Adapt Finance has combined with Amicus Property Finance to provide funding for a 100-unit permitted development scheme.

The broker teamed up with the lender to provide a £4m development facility to help with the purchase of the £7.5m property. 

Adapt also partnered with Robert Sterling Surveyors and Howard Kennedy LLP to make sure the deal got over the line.

The deal comes after the foursome previously combined to complete the biggest loan by Amicus Property Finance and Adapt last year after they came together at the lender’s stakeholder day.

Six months after that deal, Jordan McBriar of Adapt Finance and Keith Aldridge, founder and managing director of Amicus Property Finance, met at the second stakeholder day to discuss how they could work together on another major project.

The pair then came together to arrange the £4m facility comprising a 100-unit permitted development scheme with a fixed completion date of 13 days.

“The Amicus stakeholder initiative is driven by a desire and need to align all the relevant participants in the transaction; be it the lawyer, the surveyor, the broker and, of course, the lender to facilitate making a complex and arduous purchase so much more simple and eventually more achievable,” said Jordan.  

“We all subsequently agreed we would have not been able to succeed in the way we did without what we came to agree on [on] the stakeholder day and have since continued to work closely, with unforeseen breaks it must be said, to this day.”

 


Sign up to our newsletter to receive more news like this story

I accept that by joining the DFT mailing list, I will receive relevant news and promotional material via DFT on behalf of its partners and advertisers. Your data will not be passed on to any third party.
No, thanks, just the news please.



Leave a comment