We are thrilled to share another success story with a fantastic outcome for our client, a property developer.
Many property development projects encounter unforeseen obstacles, and this one was no different. Our client inherited the development, only to discover a series of problems caused by poor decisions from the previous management.
This mismanagement left the project in financial hardship, resulting in half-built units, insufficient funds, and a lender unwilling to provide further financing to complete it. Our client came to us desperate for a solution.
Tailored Solution Meets Client Needs
After reviewing our client’s situation and the development project, we identified the critical need: finding a lender willing to re-evaluate the project based on its current market value.
Directly sourcing a new lender would have been extremely difficult for our client. However, by leveraging our strong industry relationships, we secured a lender open to reassessing the project. This initial assessment led to a solution designed specifically for this scenario – a Heavy Refurbishment Bridging Loan.
The Heavy Refurbishment Bridge Loan provided the project with the necessary funds to not only complete the original five units but also unlock further possibilities. The loan structure allowed for the strategic sale of one unit, generating additional cash flow.
Through Henry Dannell’s presentation of a clear vision and a well-structured plan, we demonstrated the project’s true potential to the lender.
Matt Karagul, Specialist Finance Adviser at Henry Dannell, comments: “This case study demonstrates the power of strategic financial solutions and the importance of utilising a financial adviser with strong industry relationships. What initially appeared as an insurmountable challenge transformed into a resounding success story. With the help of the Heavy Refurbishment Bridge Loan and our expertise, the development was not only completed but also positioned for a profitable future.”
Facing similar challenges with your development project? Contact Henry Dannell today for a consultation and see how we can help you turn your project around.
Please note: a bridging loan is a short-term loan secured against your home or property. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any debt secured on it. The Financial Conduct Authority does not regulate some forms of bridging finance. Bridging finance / loan deals may not be available and lending is subject to individual circumstances and status.
