In 2022, we were approached by an experienced Isle of Wight-based property developer looking for a Ground-up Development Loan to cover the cost of several new residential properties in the village of Niton, west Ventnor.
Our client was looking to purchase a site on the edge of this picturesque village in order to construct a total of nine new detached properties, which consist of two, three-bedroom bungalows and four-bedroom chalet bungalows to cover a range of needs and budgets.
The attractive, energy-efficient homes boast an enviable combination of countryside views and the day-to-day conveniences provided by village life, and are each set within a spacious plot containing private gardens and off-road parking.
Solutions tailored to fit your unique circumstances
In order to achieve optimum commercial results for their development, our client submitted a revised planning application to further enhance their project. Having spent the time needed to fully understand their situation, we were able to offer two different funding options depending on the level of planning permission granted. This meant that our client could proceed with confidence knowing that their project was supported by a lender no matter the outcome of their application.
The result was a £2.2m Ground-up Development Loan over a term of 18 months.
“I have found MSP to be fast, responsive, and reliable. When they say they can do something, they do, and it happens quickly which is unusual in the development industry. They understand my business and the direction I plan to take, and provide a personal and supportive service, which I value.”
Justin Gentleman, Foreland Homes