£8 million loan secured for property development in Exeter
We've helped arrange property development financing for the construction of 30 new homes in Exmouth, Exeter.
The new £8 million ground up development is set on a parcel of land with spectacular views, and the 30 new homes, which include detached 4 and 5 bedroomed homes, will either have superb uninterrupted views over the beautiful Exeter scenery or will be surrounded by it.
One of the client's partners helped the project realise its full potential by obtaining planning approval for the new residences by agreeing to construct hotel accommodation, with gym and function areas. The new residences are already being built, with a total of 12 units reserved so far.
"We were impressed with the borrower's passion for their business and their drive to push through the numerous challenges they faced with planning." said Finbri's Stephen Clark.
“With several successful projects behind them, and as many further intriguing projects in the works, I don't doubt the client's plan to expand their residential development business over the next few years. I'm confident there will be additional possibilities to expand on our partnership's strong start."