Project Location: Nottinghamshire
GDV: Around £2.8 million
Development Stretch Facility: Around £1.9 million
Funding Security: First charge
Facility Period: 15 months
Stretch Funding in Nottinghamshire
Waking up to glorious views over the English countryside is something many us would love to enjoy and, in this instance, Calmez were able to provide stretch funding in Nottinghamshire for just such a location. This exclusive development of just four new build executive homes is situated on the edge of a charming village and with delightful, uninterrupted views over the neighbouring Vale of Belvoir.
Our experienced developer client has created a development of four exclusive family homes designed to make the best of their stunning setting. Each has been designed to offer spacious accommodation with features that include up to five bedrooms including two ensuites, high specification kitchens, oak internal doors, contemporary family bathrooms, underfloor heating to the ground floor, double garages and generous sized gardens with a southerly aspect. Prices of the units ranged up to £775,000 with completion due summer 2019.
The combination of good design, great specification and such a great location have duly attracted a great deal of interest from prospective buyers with two plots now sold, one under offer and the final unit receiving a lot of serious interest.
Stretch funding summary
For this project Calmez have provided development stretch funding in Nottinghamshire of around £1.9 million over a term of 15 months, with rolled up interest, and on a first charge basis. The developer utilised their own experienced, NHBC registered, contractor business to manage the build.
CALMEZ offers development stretch funding in Nottinghamshire to experienced property developers with a proven track record and can provide facilities from £500,000 to £5,000,000. We have provided stretch property development funding in all corners of England and Wales with projects that have included barn conversions, new build apartment developments, executive homes, chapel conversions, character house refurbishments and first-time buyer houses.