Our client is an experienced developer in Cornwall
and had agreed the acquisition of a new site
whilst completing the works on a previous scheme.
The new site had planning permission for nine
detached and terraced homes, set on a hill by the Cornish coast.
As the client’s funds were tied up in the project he was in the process of completing, we structured a
cross-collateralised facility to remove the existing debt from his recent scheme and fully fund both
the acquisition and development of the new site to
create £2.5million of new homes.