Andrew Fraser, chief commercial officer at Assetz

Assetz Capital agrees £2.75m development exit loan for Somerset scheme

Assetz Capital has agreed a £2.75m development exit loan to support the ground-up construction of a housing scheme comprising of seven townhouses, two detached houses, and one office located in Somerset’s town centre of Frome.

The 60% LTGDV loan carries a term period of six months enabling the developer to complete the last two detached houses with a significant cash release towards the next project — while the exit for the facility is through the sale of the properties.

Jon Pike, relationship director at Assetz (pictured above), said: "We are thrilled to be partnering with such a reputable developer having supported the vision for this exciting project in Frome.”

Andrew Fraser, chief commercial officer at Assetz, added: "This successful deal showcases our expertise in structuring tailored financing solutions to empower property developers.”

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