Development:
A 21-unit development of a mixture of 3 and 4 bed properties on what is essentially a green field site south of Bristol. BLG took on the deal after another lender pulled out. The development has performed well so far and have been moving at a very quick pace. We are expecting the construction to be finished 10 months into a 22- month loan term.
This was the second deal with this client following a 9-house scheme in Brislington on the outskirts of Bristol which was successfully funded by BLG under the British Business Bank’s CBILS scheme.
The build and sales of the previous development during CBILS were fairly seamless and we were delighted to have the opportunity to work with this developer again on this exciting project.
Developer:
Being the property business for 20+ years, the clients are commercial flooring contractors, builders and increasingly property developers based around Bristol with a large portfolio of land they have acquired over a number of years.
Location: A green field site in Cheddar, South of Bristol
GDV: £8.6m
Residential Development Finance
Loan Term: 22 months
