First Published 02/11/22
Market leading specialist finance provider, Saxon Trust, has just completed an £850,000 senior development facility, fully funding the construction and build costs required to develop out a former farmyard site in a prime location in Kent. Approximately 0.47 hectares in area, the project will see the demolition of existing buildings and hard standing and the construction of two new build detached houses together with associated garages, parking, gardens, and landscaping.
The case was introduced by David Bromley at debt advisory firm, Black Book Finance.
The properties, which will be accessed via a private road and enjoy uninterrupted countryside views, will be of a modern timber-framed and SIP panel construction under zinc panel roof trusses with aluminium windows. They will provide well-planned contemporary family living and much of the site will be rewilded to support the local biodiversity of the area and in doing so will further enhance the exceptional natural surroundings. Saxon Trust’s products are designed to give developers flexibility when they need it, particularly in times of economic turbulence such as now.
Brian West, Head of Sales & Marketing at Saxon trust commented: “Following a run of development exit deals recently we are delighted to get back to our roots and complete on this small but sustainable and exciting ground up scheme introduced by Black Book Finance. We make our lending decisions based on the strength of both the project and the developer, often lending when others fail to see an opportunity.”
David Bromley, Senior Consultant at Black Book Finance commented: “It was a pleasure working with the Saxon Trust team, and we are delighted to have secured a fixed rate deal that gives our client comfort and certainty over a 24 month period to build, market and sell the properties. In addition, the option for our client to move, fee free, to one of Saxon’s development exit products at a later date was another attractive feature.”