Reward Finance Group

Developer to complete Hampshire scheme following Reward Finance Group funding

Developer Firgrove Holdings Limited is set to complete its latest scheme following funding from Reward Finance Group.

The Southampton-based company is currently developing around £3.5m of office space, but needed £150,000 to progress a new scheme in Alresford, Hampshire.

The new development has been part-sold for £2.8m, subject to planning consent being approved, and Firgrove required the funding to cover costs, including planning, architects’ fees and environmental reports.

However, its bank was reluctant to provide the finance and Reward Funding Group stepped in.

The developer has now lodged plans to build six more units on the site, in addition to the existing offices, to complete the scheme.

Mike Gould, managing director at Firgrove Holdings (pictured above), said: “Having faced an uphill struggle to get the funding from our existing bank, I was becoming very frustrated and somewhat anxious.

“If we didn’t get the money to complete the planning process, we could have possibly lost the deal.”

Calvin Dexter, who brokered the deal, added: “Naturally, Firgrove Holdings was keen to obtain the planning as soon as possible, so that [it] could realise the £2.8m.

“I was confident [Reward Finance Group] would take a more pragmatic view of the deal, which [it] did quickly, allowing the company to move the planning process forward.”

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