The case in brief
- Land value – £845k
- Build cost – £1.2m
- GDV – £3.5
Development investments will always come with a wealth of complexities, but it can be even more daunting for a client with limited experience in the UK property market. Articus has the expertise and resources to help such a client navigate the complexities of this type of development, finding the ideal solution for their needs. Download our guide for more information.
Our client
Our client had been a contractor for the past 10 years and was looking for a new challenge. After researching the real estate market in South London, they identified an opportunity to purchase a commercial building with planning to turn it into a 6-unit property. With a purchase price of £845k, build costs of £1.2m and an estimated GDV of £3.5M, the client was confident he could make a good return on his investment.
Our client was already familiar with Articus due to our past involvement in several projects, with him as the primary contractor. He reached out to us, as he was now looking to complete the development himself, however, didn’t have the capital to invest himself.
Our solution
Articus had a long-standing relationship with a lender who was well-informed and well-suited to securing this type of loan. Our knowledge and experience with the lender were invaluable, ensuring the loan was quickly approved in order to purchase the commercial building for £845k.
Following a fine review of the client’s past projects, the lender was happy to supply the full funding for the works of £1.2m.
This is another example of Articus Finance finding bespoke solutions for our clients. The client was delighted with this result, he was confident that the project would be a success and that he could generate a good return on his investment.
In Articus, we have a team of experts ready to provide advice and assistance tailored to your individual needs. With our competitive rates and flexible terms, Articus is the perfect partner for your development finance needs. Get in touch today.
N.B – This product is only available for building contractors with a solid track record of managing projects.