NEW BUILD EXECUTIVE HOUSE LIVERPOOL
Focus Commercial sourced and arranged a senior development funding facility for the construction of 1 x 5 bed new build executive houses with a state-of-the-art gymnasium and 1 smaller 3-bedroom executive new build detached houses.
What we did
The long-standing developer client of Focus spotted a fabulous opportunity in this highly desirable location in Lancashire to purchase a 1.28-acre site in this private semi-rural setting.
The site had 2 rundown dilapidated residential dwellings on this tired plot which was covered in Japanese knotweed.
The developer client needed development funding to eradicate the Japanese knotweed on a structured management plan, to obtain planning, associated professional fee costs and construction costs in the full development funding facility.
During the construction, the developer realised that the desirable location of the properties had increased the value significantly. They spoke to Focus to see if they could restructure the funding if they extended the original design to extend the kitchen, added a cinema room and a gymnasium along with a 3rd floor added over the whole property.
Focus refinanced with a restructured and enhanced development funding facility to accommodate the new changes in the design to create more value and profit for the developer.
Development guidance, expertise and services we provided:
Secured the project site with rapid acquisition funding.
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 and structural engineer.
Advised and arranged for our client 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.
Assisted our client with the lender’s IMS (Independent Monitoring Surveyors) requirements.
Refinanced and restructured a new increased development finance funding facility to accommodate the new funding requirements.
They truly are specialists in their field, delivering bespoke solutions to suit their clients’ needs.”
“We have worked with John and the Focus Commercial team on many projects that have needed both development funding and development exit funding. Focus have arranged development funding on multiple projects in sectors we specialise such as large residential apartment blocks, retail and the assisted living care and care home sectors. We are in safe hands, as we know each project that requires funding has been credit underwritten and the correct development lender sourced for that project.
They have assisted our company with the development appraisal, and cash flow forecast. The Focus team work on the lender admin, liaise with the lender valuers, and our solicitors, which is a seamless non painful process to obtain funding drawdown.”
Property Developer, Building Contractor, Landlord and Care Homeowner & Operator
MB
ABH Group Ltd