UTB provides £1.5m planning gain loan to help developer maximise investment

United Trust Bank (UTB) Structured Property Finance has delivered a £1.5m planning gain facility to property developer Leyton Cross Holdings Ltd.

The bank’s team was approached by Greg Begley, managing director at GGW Corporate Services Ltd on behalf of Edward Jones, principal at Leyton Cross Holdings. 

The developer has owned the 10-acre plot of land for near Dartford, Kent, for over three years.

Currently, a B8 storage business is operated on part of the land, and there is also a tenanted residential property and several acres of paddock.

Leyton Cross Holdings was reaching the end of its existing finance term and was looking to refinance with a new lender. 

The two-year loan from UTB has given the company time to maximise its investment in the mixed-use site, with the intention to use the term of the loan to obtain planning permission for a residential development on the site.

“Having worked with Greg on many projects over the years, I’ve come to trust his judgement on property finance options implicitly,” said Edward.

“Although I was aware of UTB and its reputation, I hadn’t had first-hand experience. 

“However, once Greg had introduced us, I immediately knew he had made a great recommendation. 

“This is an unusual site, but the team’s experience and commitment to expediting the completion meant they dealt with any queries quickly and without fuss.”

Greg added: “This is the first opportunity we’ve had to work with UTB, and I’m very pleased to say that the experience from start to finish has been excellent. 

“They quickly got to grips with the scenario and what Edward required, were very commercial when structuring the solution, and delivered what they promised in an efficient and timely fashion.”

Gerard Morgan Jackson, head of structured property finance at UTB (pictured above), commented: “We consider a wide variety of residential, commercial and mixed-use proposals and, at UTB, we believe in working closely with advisers and their clients to find solutions which work for all parties. 

“On this occasion, we were delighted to work with Greg in structuring a bespoke facility on an unusual security. 

“His involvement and expertise helped us to complete due diligence without fuss or delay and ultimately provide Edward with the funding he needs to maximise the return on his investment. 

“This, combined with Edward’s experience and successful track record, assured us that this was a project UTB would be pleased to support.”

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