Located near the picturesque market town of Pershore, Worcestershire, a stunning barn conversion has resulted in a fantastic four-bedroom home with panoramic views of the countryside.
Our customer, Francis James, is an individual developer who was looking for finance to help with the final stages of a barn conversion from a decrepit old building into a modern, luxury property. After hearing more about the plans and the frustration he faced with finding finance from other lenders, we were happy to support Francis with a £240,500 bridging loan that covered his requirements to finish the part-complete project to the highest standard.
The project
The project was spearheaded by Francis, who had retired from a career in engineering and was looking for a new project to pursue. Having decided upon a barn conversion, he began looking for a property to develop. The chosen barn was originally built over 200 years ago and had fallen into a state of almost complete disrepair.
Having spent his career overcoming challenges, Francis was not oblivious nor daunted by the magnitude of this project, even given the scepticism and lack of support from many people around him. Francis had a clear vision for the development and set to work.
Francis worked with an architect, builders and a structural engineer to complete a feasibility study of the conversion, which included design specifications, construction programme and a detailed cost plan. This allowed him to have confidence about what finance was required to complete the project to the highest standard, and on time.
“I found the entire process fascinating and thoroughly enjoyable,” says Francis. “From finding the barn, devising a detailed plan, to securing funds and selecting the right tradesman.”
How MSP Capital helped
Francis found it hard to secure the funding support from other lenders to finish the project. His broker recommended that he get in touch with us, as a supportive and proactive lender. We were happy to discuss the project and how our flexible bridging loan products could support the completion of his barn conversion.
Following a consultation with our team, we were happy to offer a Light Refurbishment Bridging Loan of £240,500 to help ensure the project was realised to its full potential. The finance provided allowed the final phases of the project to be completed to the high standards Francis had in mind.
The end result
The end result is a stunning four-bedroom residential property, appealing to a wide-range of buyers looking for a modern comfortable home with plenty of surrounding space and nearby town amenities.
With over 2,000 sq ft of living space, it’s hard to believe this fantastic modern design was built over the bones of a rundown barn that’s over 200 years old. The property has four bedrooms – three double, one single – a family bathroom and a contemporary ensuite. There’s a spacious, modern kitchen, a diner, lounge, reception hall, and both a utility and cloakroom. The beautiful panoramic views of the Worcestershire countryside are just another reason why this property is sure to be in high demand.
MSP Development and Construction Monitoring Manager, Rupert Morrall, who visited the project several times, was impressed with the standard delivered, stating “I am a big fan of barn conversions done well and Stocken Barn has been preserved for generations to come in a manner that truly respects the history of the structure. Francis and his team have demonstrated a level of attention to detail that has been a privilege to witness, congratulations to all.”
“MSP Capital was recommended to me, and they provided the funds I needed to get the project finished to the highest standard – banks didn’t appear interested. It was also nice having the occasional visit from Rupert, who was always supportive and able to provide much needed encouragement along the way. A Light Refurbishment Bridging Loan was used to help with the completion of the project. Without such a loan I could not have achieved the quality of construction and finish that such a project deserved.
I would recommend MSP Capital to any new developers who would likely benefit from their development expertise.”
– Francis James, Independent Developer
