Development Finance
Development finance for rural barn conversion in the North of Devon
Sector
Property Development
Location
Devon
Purpose
Barn conversion
Scenario
Our client is an experienced property developer, having completed a number of renovations and ground-up developments. After completing their last development they had sufficient funds to purchase a derelict barn in North Devon with the aim of developing it into a holiday let.
Problem
The client required funding to undertake the build phase of the development before then marketing and selling the property.
Solution
Our specialists were able to approach lenders who we knew had appetite for smaller development funding that also would lend in rural locations. We were able to structure a very competitive development loan with a High Street lender, enabling the client to fund the build as well as complete and onward sale.