Development finance for commercial units in Southampton

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Development finance for commercial units in Southampton

25 June, 2019

MSP Capital are delighted to have recently provided a finance package for the development of a speculative scheme of five office (Class B1a) units in Hampshire.

The greenfield site was developed to provide two terraces of high quality, two storey offices ranging in size from 824 sq ft to 1,604 sq ft, with excellent parking provisions. The development, completed earlier this year, was an immediate success with off-plan reservations and all the units now sold or under offer.

With a team of experienced relationship managers who understand commercial property and development, MSP Capital were able to overcome the potential obstacle of no pre-let or sales, backing the borrower’s judgement and provide a loan to secure the site and all the build finance.

Jason Wilkinson, Director at Rivendale Homes Ltd, commented:

“Rivendale are delighted with the success of this project. We have been able to transfer our skills at building high quality houses into the commercial sector and created a product which was very well received. The process of dealing with MSP Capital, securing funds when many lenders would not support a speculative commercial scheme of this nature, was straight forward and efficient. Throughout the build MSP have always been approachable and supportive and we are looking forward to carrying out more projects with them in the future.”

For any commercial or residential development funding requirements, please contact Adam Tovey or any of the team at MSP Capital