Case Study: Kingsbridge

Equity

Our client secured a former motor lodge in an exceptional waterside position overlooking the harbour, in Kingsbridge, South Devon, with planning for 11 units.

Funding Requirement – The developer required funding on a 100% basis and target GDV for the scheme was set at £4.1 million.

Facility Provided – 100% joint venture funding on a limited recourse basis provided by an established private finance company specialising in residential development. Funding for all acquisition and development costs including professional fees was provided. A joint venture agreement was put in place to provide a 50:50 share of development profit with no priority in relation to its distribution.