14 GROUND UP NEW BUILD APARTMENTS NEW BRIGHTON, WIRRAL PENISULA
Focus Commercial sourced and arranged funding for the construction of 14 new build residential apartments.
What we did
The scheme was constructed in 12 months and during the latter stages of the COVID19 pandemic in 2020.
Focus was on hand throughout the development loan period, and the construction was completed before the end of the JCT Design and Build Contract completion date, and the development facility loans due redemption date.
The scheme is located at the northeastern tip of the Wirral Peninsula, within the historic county boundaries of Cheshire, and has sandy beaches which line the Irish Sea, close to New Brighton train station.
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.
Obtained development 90% LTC Peak Senior Debt Funding.
Prepared a detailed Development Credit Paper to submit to the development lenders.
Prepared a detailed Development Appraisal to submit to the development lenders.
Prepared a detailed Development Cashflow Forecast to submit to the development lenders.
Liaised with the client’s architect.
Advised and arranged for our client Building Regulations & Structural Defect Warranty Insurance.
Project Managed the whole loan process on behalf of client, dealing with the lender, valuer, lender IMS, lenders solicitors and client solicitors.
Introduced our client to the scheme’s successful sales agent who sold the units 100% outright.
The Results
The results of the project can be found by visiting the following links:
https://www.insidermedia.com/news/north-west/wgj-properties-backed-by-950k-boost
https://lbndaily.co.uk/developer-secures-loan-almost-1m-wirral-residential-scheme/
Helped us with all aspects from start to finish.
“We met John after making contact through the Focus Commercial website and at our initial meeting he explained clearly what he could do for us to make our project a success. Before he even spoke about acquiring funding, he went through every detail with us to make sure our project was viable. Acquiring the funding was an easy process and as the development progressed John stayed in touch and even made site visits to make sure everything was running smoothly. He helped us with all aspects from start to finish even advising us on legal teams, insurance, and sales. It has been an absolute pleasure working with John and we look forward to more continued success with all at Focus Commercial.”
Managing Director
Wiiliam Roscoe
WGJ Property Ltd