8 GROUND UP NEW BUILDS ST HELENS, MERSEYSIDE
The developer purchased the land in St Helens Merseyside and constructed of a new build residential scheme of 8 x semi-detached houses once planning was approved.
What we did
My client purchased this land in Clock Face Village, St Helens Merseyside, without any planning approval.
He successfully obtained planning permission from St Helens Council for the construction of 8 Semi-detached houses.
He has used his own funds to purchase the site and put it through to full planning approval stage.
Focus liaised with the client, the client’s architect, and planning consultant to ensure the planning approval was on track to be approved.
Focus advised the architect and planning consultant to fully package the planning application thoroughly to mitigate pre commencement conditions which would delay the development facility funding drawdown and start of the construction of the 8 semi-detached houses.
Focus then obtained the successful formal offer subject to planning approval, ready to drawdown the funding as soon as planning approval was obtained.
Focus obtained a development funding facility for the construction and associated professional fees that were novated to the JCT Design and Build 2016 Contract edition to complete this new build scheme.
Focus refinanced the scheme approaching practical completion to release profits early for the developer’s next scheme.
Development guidance, expertise and services we provided:
Prepared a detailed Development Appraisal to submit to the development lenders.
On behalf of our developer client, qualified their equity contribution to the scheme.
Calculated the Residual Land Value of the site to present to the lenders.
Confirmed to our returning developer client that the scheme was profitable and fit for funding presented through Focus.
Obtained Development 72% LTC & 55% LTGDV 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.
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.
Refinanced our developer client before practical completion to release funds early from their profits from the scheme.
The system that Focus have has got to be the best on the market.
“Over the four years I have been working with Focus, I have been absolutely delighted with every aspect of the services they offer. As a highly experienced builder and developer, with over 38 years in the construction industry, I needed a development finance expert to drive my first project. I had lost confidence in the Banks. John was the project manager of the drawdown process, and he guided me through every stage. His detailed appraisal, costing, viability evaluation and planning gain, legal knowledge, allied to his overall construction knowledge helped to make my first project an enormous success. I now have a very successful development and construction company and still work with Focus on all my project development funding requirements.
Focus have arranged acquisition, development, and development exit funding for every one of my now completed and successful projects. John is both knowledgeable, professional, and very approachable and friendly, and his team are very supportive. The system that Focus have has got to be the best on the market.”
Property Developer & Construction Contractor
Mark Cooper
Markbuild Construction