Project Location: Near Bath
Project GDV: In excess of £1,000,000
Mezzanine Funding Facility: £250,000
Funding Security: Second charge with an agreed Deed of Priority
Facility Period: 18 months
Calmez provided initial mezzanine funding of £220,000 which was extended to a total of £280,000 during the term with interest and capital repayment rolled up. Our experienced developer client sensitively restored and converted this Grade II listed former chapel to create three unique homes each of which had character features coupled with modern, contemporary features.
The chapel, thought to have been built in the mid-19th century, was situated in a quiet resident area with local amenities close at hand together with Bath city centre within a couple of miles.
Each property had a private entrance, stylish and well equipped kitchen, contemporary shower room or bathroom and private front and rear gardens. The centre unit was formed from the original chapel meeting hall and so had an impressive open plan entrance hall, kitchen and family room that featured a double height ceiling with large windows.
CALMEZ offers developer loans and developer funding in the form of mezzanine funding to property developers and builders with proven track records and whom meet the lending requirements of both our prime lender as well as our own. For more information then please contact us here or by calling 0207 096 1900.