Case Studies
Large new Build property.
Broadoak Private Finance provided a £650k nance facility over a 6 month term to assist one of their regular Property Developers with their latest development in Leicestershire. The scheme, comprising of re-fi nancing of a part built residential house plus funding the rest of the construction.
The subject property which is situated in Sheepy Parva, a picturesque village set in glorious rural surroundings and sought after area. The exquisite 6 bedroom family home, sitting on a plot of appox 1.5 acres would be marketed for around £1.4 million.
Redevelopment of beach fronted property in Sandbanks.
Broadoak Private Finance provided a 12-month redevelopment facility to an established Southern based property developer. The loan was for a total of £1.8m and staged drawdowns over 15 months. The loan was repaid in full when the house was sold off plan.
Sandbanks is one of the most expensive regions of the UK for residential property, forming a unique micro-market. Successfully funding a high-value project of this nature requires detailed local knowledge. Initial due diligence involved making use of Broadoak’s network of agents, valuers and other developers active in the area.
The build was monitored to ensure that the project budget and timescales were kept to. Regular updates from the monitoring surveyor and valuer as well as site visits confirmed satisfactory progress. The loan was repaid when the house was sold off plan for £4.9m.
Croft Gardens Air Space new build.
Broadoak received an unconventional request for funding of air space (vertical space above a piece of land or building, title to which is included in the title to the property) to build 3 detached houses. Due to our ongoing relations with the borrower we undertook the task to try and structure a workable Loan for £450k (3 houses £150k each) in stages over a 9 month period.
Broadoak was happy to take on this unconventional development and turn it into a profitable conventional Buy to Let Mortgage.
