Development finance secures land for 9 holiday homes
3.5 acres of land in Somerset was acquired utilising £650k in development finance. Our client required £650,000 to purchase and develop land for 9 traditional build holiday homes.
20 miles northeast of Taunton and 15 miles from Glastonbury, this opportunity to purchase and develop land in Highbridge, Somerset, required £210k for the land plus the additional costs for project set up, infrastructure and build.
With full planning and conditions met, the finance was required to get the project underway.
"Our lending panel have experience in sourcing funds for development finance projects such as this one in Somerset." says Stephen Clark, "With the significantly increased demand for UK holidays in recent years, the rental income opportunities from the 9 holiday homes are very exciting and we were delighted to facilitate the finance to complete the land purchase and get the development underway."