In the popular residential area of Shawford, near Winchester, an established developer is constructing three high-specification detached homes. The developer, an existing borrower of MSP Capital, turned to us for development finance on two of the houses. We were happy to offer him a £3m Ground Up Development Loan to enable him to finish the project.
The houses are to be finished to a high standard, comprising five bedrooms, walk in dressing rooms, large state-of-the-art kitchens, dining rooms and studies. They also have spacious loft rooms, perfect for a games room or snug. A detached triple garage with storage above completes the design.
Shawford is within easy reach of Winchester and the New Forest. The area is in high demand due to its facilities, easy access to London, beautiful surrounding countryside and access to the south coast. Fairfield Road where the site is located is a popular and well-respected residential location predominantly comprising large, detached houses.
Local facilities can be found in Shawford, or Winchester and Southampton have a more extensive range. MSP Capital were happy to offer a 70% LTGDV for this regular customer due to the high values and strong demand for properties in the area.
The Ground Up Development Loan is an ideal product for this scenario, providing funds to cover the whole project. Our Development and Bridging Loans, accompanied by the property knowledge from our experienced account managers, enables regional developers like this customer to get real value from our services – above and beyond just lending. Our 45 years’ experience allows us to support the vision our customers and ensure maximum value is achieved for them. We become an extension of the developer’s team and provide direction and valuable feedback at every step.
“We chose to use MSP capital due to the past relationship across various projects, because of the relationship with primarily with Chris Wright and subsequently the team, they have always been supportive and competent to assist with the funding of our projects and worked with us.”
– Jack S Managing Director
