29 GROUND UP NEW BUILDS APARTMENTS NEAR LIVERPOOL CITY CENTRE

Focus Commercial sourced and arranged funding for the construction of 29 new build residential apartments near Liverpool City Centre.

Sector Residential

Asset Class Apartments

NUMBER OF UNITS 29 Units

GDV £6.7m

What we did

Focus arranged a development facility to construct 29 new build apartments.

The loan was completed within 6 weeks from the initial credit proposal sent to the lender, to the facility drawdown.

Within the 6 weeks, the valuation, lender independent surveyor report, and successful legal completion were completed.

Our developer client obtained practical completion on the scheme within 10 months on a JCT 2016 Design and Build Contract and redeemed the loan before the 15-month terms redemption date.

Once the development loan facility was completed, this scheme was constructed and reached practical completion ahead of schedule and was repaid before the due redemption date.

It has been the best performing Focus Commercial development loan within their 13-year history.

Our developer client, due to this performance is now an industry award winning developer.

Development guidance, expertise and services we provided:

Prepared a detailed Development Appraisal to submit to the development lenders.

Confirmed to our returning developer client that the scheme was profitable and fit for funding presented through Focus.

Prepared a detailed Development Credit Paper to submit to the development lenders.

Prepared a detailed Development Cashflow Forecast to submit to the development lenders.

Obtained Development 90% LTC Peak Senior Debt Funding within only 6 weeks for drawdown.

Liaised with the client’s Architect, Structural Engineer, and full professional team.

Advised and arranged client Structural Defect Warranty Insurance for our client.

Project Managed the whole loan process on behalf of our development client, dealing with the lender, valuer, lender IMS, lenders solicitors, client solicitors, and rapid completion of the facility and redemption.