We were recently introduced to a new UK client by their solicitors who were seeking a funding package which included the acquisition of existing buildings and on-development of the site.
This was a time sensitive transaction as the existing planning permission on the site only had a couple of months left before the client would have to reapply for planning permission. Our team managed to secure funding lines for both the acquisition and also for the development finance shortly after being approached. The client completed the acquisition within their original timescale and have also commenced development work in advance of the expiry of the planning approval.
75% acquisition funding and 100% of the development funding was secured.
Total funding secured: c£3.5m split between acquisition and development finance