2+ GROUND UP NEW BUILDS QUEENS DRIVE, 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 developer was introduced to Focus from a developer recommendation.
The developer needed monies to complete the development and needed a development expert to guide and assist them back on the right track to complete the project.
The developer also needed development expert help and guidance with their existing planning approval and had been misguided slightly from their previous planning consultant with the discharge of planning conditions and how the properties had been built to the window and watertight stage of the construction.
John from Focus came to assist our now new developer client by visiting the project site, assessing the stage of the build to date and what was needed.
John from Focus reached out to the appointed planning officer at Liverpool City Council’s planning authority to arrange a site meeting to rectify the planning issues and was able to arrange a site visit with the planning officer, the developers, and Focus to come to a successful outcome.
Focus arranged and structured a development finish and exit loan to complete this part-built site.
The development finish and exit loan facility was drawdown quickly to refinance the existing lender and provide the construction funding in staged drawdowns in line with the new schedule of works. Focus provided for the client and lender to reach practical completion with all the practical completion sign off requirements.
Focus saved their project, their investment now enabled a profit in the project, and passive income on the refinance with a Buy to let Mortgage.
Development guidance, expertise and services we provided:
Focus was approached by one of their lending partners to assist their client who had come to the end of their term with their development loan with their house they were constructing only part built to the 1st floor stage, with no roof, windows and front and backdoors.
The developer had run out of cash to complete the development and needed a development expert to guide and assist them back on the right track to complete the project.
Focus came to assist our now new developer client by visiting the project site, assessing the stage of the build to date and what was needed.
Focus arranged and structured a development finish and exit loan to complete this part-built site.
The development finish and exit loan facility was drawdown quickly to refinance the existing lender and provide the construction funding in staged drawdowns in line with the new schedule of works Focus provided for the client and lender to reach practical completion with all the practical completion sign off requirements.
Focus saved their project, so their investment now enabled a profit in the project and passive income on the refinance with a Buy to let mortgage.
We highly recommend Focus.
“I was recommended to John and Focus by a couple of construction developers in my network in Liverpool and the Northwest. John has a very good reputation in the industry. I am the managing director of Enervate Property Group Ltd based in Liverpool, Merseyside. John and the Focus team assisted us for the development funding to complete our part built newbuild site in Liverpool, that we had initially self-funded. The Focus team assisted us not only with the funding, but helped us with planning issues we had on the site, introduced us to a planning consultant, and prepared a development appraisal, schedule of works and costs, with a scheme cash flow forecast which included a spend to date and spend to complete.
The scheme will be at practical completion in the next few months, all down to Focus. We have never had development funding up to this point, but the funding, the services and development knowledge has changed the landscape of our property development business. We have now raised funding for the initial project we introduced to Focus, but also our next projects in our development pipeline that require funding. We highly recommend Focus.”
Property Developers
Thomas Smith and Michael Howard
Enervate Property Group Ltd