The lender received the enquiry from Nigel Whitfield at Empire Commercial Finance, which recognised that for an inexperienced developer, Signature would be the best option to secure the funds required.
Chemar Properties was established in 2016 as a residential property management company by Martin Davies.
Pictured (l-r): Danny Power, BDM at Signature Private Finance, Tony Gilbertson, CEO at Signature Private Finance, and Nigel Whitfield of Empire Commercial Finance
“Our first thought is always: does the property have at least four walls and a roof,” said Danny Power, BDM at Signature Private Finance.
“If it has those and fits our acceptable properties specifications, then we start the discussion.
“We believe it’s critical to meet clients whenever possible, particularly when dealing with relatively inexperienced developers, who typically need more support throughout the process – enquiries brought to us by experienced brokers, like Nigel, will always attract our attention.
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“The properties occupy a great location in Crewe, which may not be a recognisable development hotspot, but it’s future is bright thanks to the progress of HS2 and associated industry.
“Martin has a good business plan, but it was tough to see the value in the development on paper.
“But once we visited the site and Martin walked us around explaining his vision, it was easy to see the potential – the rest is just paperwork.”
Martin added that Nigel recognised the need to involve a funder with direct experience of the property development market, as the project looked much better in the flesh than on paper.
“Once I explained, not just my plans, but the optimism across the region and Crewe in particular, Signature made the application process relatively quick and simple.
“I was impressed that Danny and the team from Signature were prepared to get their hands dirty and walk around the site to understand my vision and the potential that exists locally.
“Requiring more funds to complete the refurbishment phase, Signature again made the process efficient and stress-free, which is all you can ask for when you have a development to finish and market."