The DFT roundtable video can be viewed in full on the DFT Roundtables page.
The event — which took place on Friday 5th April at Watson Farley & Williams’ offices and was chaired by DFT editor Beth Fisher — was supported by Aldermore and Avamore Capital.
Simon Knowles, head of property development at Aldermore; and Zuhair Mirza, principal at Avamore Capital, explained why a developer might experience development delays and what lenders could do to mitigate against these issues.
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Zuhair Mirza, principal at Avamore Capital
Simon Knowles, head of property development at Aldermore
Developers and brokers were also in attendance to offer their opinions and experiences in the current market, including Nicole Bremner, director at East Eight; Graeme Alfille-Cook, investment consultant at Apex Airspace; Adele Turton, director at Sirius Property Finance; and Matthew Cleave, director of structured finance at Arc & Co.
Ranjeev Kumar, partner at Watson Farley & Williams, also gave a legal perspective on amending and restructuring facility agreements as a result of cost overruns and delays.
The conversation took a deep dive into longer sales periods and the rise of developer exit products, increasing costs, planning issues and the types of schemes that are now less viable to fund.
The video can be viewed in full on the DFT Roundtables page.