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 Hambros Secured Lending have successfully completed another Development Exit Top Up loan to an award-winning house builder ME Developments.
The completed development comprises of 17 detached upmarket homes situated in Hampshire with pre- sales in place. Hambros were pleased to provide an equity release facility in order for the developer to continue to invest in other development sites. “Since we launched the Development Exit Top Up product, we have received great feedback from introducers and developers alike. Hambros are happy to be supporting good developers in releasing equity or securing more time for the sales process to take its course. “ said David Travers, CEO at Hambros. Hambros can offer loans from £400,000 to £5,000,000 up to 75% LTV and a maximum term of 18 months over our full product range. Opportunistic first charge, Second charge and Mezzanine finance available. For more information about this project, or to find out how we can help finance your scheme, please contact us.
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 Hambros are delighted to be working with an experienced developer, providing a 2nd charge bridging loan to a six-storey modern office building in the bustling regional location of Bristol.
The 114,000 sq. ft. office block, valued at £26.5m, recently remodelled the concierge reception to provide an open contemporary space with striking high-quality finishes. The building incorporates a spacious break-out area, as well as an on-site coffee pod for use by the building's occupiers. Hambros will provide the developer with further funds for Capital Expenditure, to let out the remaining units. With their own branded Serviced Office provider lined up to take a 10-year lease, the facility will provide a fit out of the second-floor suites and working capital for the serviced office offering. Providing a loan of £4m over a 12-month term, Hambros are excited to work with the client as they enter the flexible-working environment that is sure to be a very prominent way of working in the post-covid world. For more information about this project, or to find out how we can help finance your scheme, please contact us.
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 In early 2020, Hambros provided Mezzanine finance to a well-established developer, to help support the acquisition and development of a site in one of the most sought-after Suffolk villages.
Hambros initially provided finance on a 2nd charge basis to the development, which has planning consent, consisting of 17 homes (3, 4 & 5 beds) in an exclusive private road, each with a family friendly garden. The developer has successfully tendered the project to a number of modular construction providers, with Peterborough based Impact Modular winning the contract. We have decided to step in to clear the 1st charge lender, and to provide the senior debt development facility of £3.42m to the clients, giving them the ability to proceed with the construction. The development, with a GDV of £5.5m, will be finished within 9 months, with the clients planning on refinancing our loan as the exit. Hambros are specialists in providing finance for modular construction schemes and see the value in Modern Methods of Construction (MMC). To find out how we can add leverage to your project, please contact us.
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 Hambros Secured Lending are pleased to reveal we have completed a second charge bridging loan to an experienced developer for the landmark development at Bayscape, Cardiff Marina.
Built in 2017, Bayscape is a prime residential development in Cardiff Bay, comprising of 115 apartments within 2 linked buildings- Waterford House (to the West) and Whitewater House (to the East). Most of the units have already been sold but 16 apartments throughout the scheme, which are being held for rental investment purposes. Another experienced lender is taking over as the 1st charge lender on the 16 remaining units, whilst Hambros secure a 2nd charge on 5 of the 16 units. Providing an LTV of 75%, the gross loan is for circa £600,000. Once the Covid-19 restrictions are lifted, the borrower will refinance all 16 units through the 1st charge lender. This is likely to coincide with phase 2 of the development, which will repay our facility. For more information about this scheme, or to find out how we can help finance your project, please contact us. |
