Lender provides £800,000 for Bristol housing development

Avamore Capital has provided a loan of around £800,0000 to a developer looking to construct three family homes in Bristol with a gross development value of £1.3m.

The specialist lender provided the facility to Sampson Homes to allow it to refinance a detached property in Longwell Green, Bristol. 

Avamore has also agreed to provide regular advances to Sampson for the development of the homes, which are expected to be completed and sold within 14 months.

The lender was introduced to the deal by Mark Ellis of Just Bridge/Development Money with Martin Philips and Susan Pearson at Howard Kennedy legally representing Avamore and FDC Law acting on behalf of Sampson.

Dane Sampson of Sampson Homes said Avamore delivered on its promises and thanked the lender for its great service.

“I approached Avamore Capital for development finance and was promptly given a decision that my deal was acceptable. 

“Avamore Capital and the team were prompt, efficient and very proactive at getting things done fast. 

“This was important to me as I needed the funds quickly to clear a bridging loan.”

Mark added: “This has been our first transaction with Avamore and we’ve been really impressed by their professionalism, determination and efficiency. 

“We hope to work with them again in the future." 

Michael Dean, principal at Avamore Capital, hoped this transaction would be the start of a long and fruitful relationship with Sampson.

“Dane is a fantastic guy with a really fascinating back story. 

“Although he’s fairly young in the development process, we’ve already seen examples of his work which were very impressive. 

“He’s picked up a cracking site for good value and obtained a consent that makes a lot of sense.”

Michael went on to add that Avamore had started the year well and revealed enquiry volumes were near record levels. 

“What has been impressive has been the quality of the enquiries, which tells me we’re doing the right things by delivering for customers, brokers and sending the right message to the market.” 

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