Our client was looking to purchase a site in a limited company name to Demolish the existing house and develop a three storey detached double fronted block of 9 flats (5 x 1 bed and 4 x 2 bed)
Purchase Price; £1,000,000 Development loan; £1,027,000 Total facility including interest £1,779,750 Gross loan day 1 £640,872 Term; 18mth term GDV; £2,825,000 LTGDV 63% Exit; sale