6%
Interest rate
65%
LTC
Senior debt funding
THE CHALLENGE
Our client had secured planning for a Grade A Office Development located in the heart of Bristol’s commercial district. Despite the strength of the scheme the client had experienced difficulty securing senior debt from mainstream lenders due to the speculative nature of the development.
THE SOLUTION
Bircroft was able to secure construction funding for the project on a non-recourse basis at approx. 6% p.a.
We are delighted to be working with such an experienced developer and confident in the knowledge we have introduced a reliable UK lender who is commercially minded and prepared to think outside the box!
KEY WINS
- Funding speculative office development
- Non-recourse development finance