Project Location: East Sussex
Project GDV: Around £2.35 million
Residential Development Finance: Around £250,000
Funding Security: Second charge
Facility Period: 12 months
This an excellent example of where Calmez residential development finance has helped our client bring to fruition the construction of stylish new apartments on the site of two former houses.
We know, of course, that with property; it is all about location, location, location and this is a project that doesn’t just meet this requirement but it also delivers on style too. Inspired by contemporary homes in LA, this boutique developer wanted to create a property development that delivered well planned accommodation, flowing lines and with attention to detail.
The project comprises 10 one and two bedroom apartments over three floors with most having a balcony, terrace or garden. Situated just a short walk from the cliff top and sea front, the lucky owners of these brand new homes will enjoy sea views, views over the South Downs and some lovely coastal walks.
As well as local amenities and attractions, the development is just a few minutes from the legendary appeal of Brighton. With world class restaurants, theatres, shopping and leisure facilities, Brighton is one of the best coastal resorts in the south east.
The overall accommodation comprised around 6,100sqft and each apartment is being finished to a high standard with features that include bi-fold doors opening onto balconies/terraces, ensuite bathrooms to the master bedrooms and a private parking space. With prices starting from just £190,000, these apartments have been attracting a great deal of off-plan interest from potential buyers.
Residential Development Finance from Calmez
Calmez have supported this project with residential development finance of around £250,000 on a rolled-up interest basis over a term of 12 months. The total GDV will be in excess of £2.35 million.
CALMEZ offers residential development finance to 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 on residential development finance then please contact us here or by calling 0207 096 190.