We were introduced to a new client, Archway Construction, who needed us to act quickly to fund a large project located in Northampton.
When their funding request hit a problem with their usual lender, Rob Garton at Turner and Townsend, Nottingham based Quantity Surveyors, immediately recommended MSP Capital.
The introduction to MSP was swiftly made by Rob to Archway Construction who are well-established developers and have a strong track record of completing high-quality projects.
This scheme will see the demolition of the existing building and subsequent development of 40 high-spec apartments, plus a single commercial unit close to the centre of Northampton with a range of commercial and leisure facilities nearby.
We stepped in to help
Stepping in for another lender at short notice meant we could rely on the existing Valuation Report and IMS Report and allowed us to quickly get up to speed and continue where the client left off so that the deal didn’t lose momentum.
We were able to swiftly approve a £5m Development Facility for a 20-month term at a Loan to Value of 65% that meant Archway could complete the transaction as planned.
How we pulled together to make it happen
Our team of in-house experts demonstrated an early willingness to step in and remain flexible to swiftly turn around the funding within 3 weeks.
We took the time to listen to our client, understand the issues from the outset and worked closely with them to tailor the loan to suit their needs. This meant they could seamlessly move forward with their project in line with their original plans.
MSP Capital have built a strong relationship with both the client and the Quantity Surveyor and are excited to be part of their journey and can’t wait to see how the project progresses.
The speed and ease of this transaction has been incredible (you’ve broken all records for us!)
Anthony – Development Director at Archway