Westminster Construction Finance £38m Westminster Construction Finance

We completed a £38 million development construction loan, helping fund the construction of 55 new-build apartments, in the Westminster.

The loan itself was agreed on a 18-month term at an LTGDV of 63%, giving the developer the optimum amount of time to construct and sell all 55 apartments.

Underwritten and completed in 6 weeks, this large development loan will fund the construction of 55 modern dwellings in in the popular are of Westminster.

The client, a major overseas developer had plenty of experience and track record in the UK.

Deal summary:

Ground-up development to deliver 55 apartments

Key highlights

£38m of development finance arranged
Senior debt
63% LTGDV
18 months term

How did we help?

Debt funding was secured with a private lender willing to support an experienced developer
We were hands-on assisting the client and his team throughout the entire funding process

Westminster Construction Finance £38m February 11, 2020