Development deal of the week

Development deal of the week


With lenders in the short term sector beginning to diversify their product range to help a broader range of clients obtain the finance they need, here at B&C we have brought you the very best in recent deals that have utilised these new and innovative niche products.

By presenting developers with greater opportunity, the short term industry is providing a much needed finance solution, enabling both new developments to prosper and stalled projects to complete.

This week, we have details of a deal recently completed development by

Goldentree Financial Services Plc


Finance broker Mark Roberts, Director at Terra Firma, contacted


as one of his clients,

McCaul Developments

, was finding it very hard to source the right finance he needed.


is a family owned development company based in the North West and has been established for over 50 years.


were pleased to have been able to help McCaul with a £640,000 loan to help the firm construct the first phase of its development at The Village, Green Lane, Leigh. The loan term is for 12 months.

The Leigh site consists of a first phase of six townhouses and subsequently more units will be built.

The gross development value (GDV) of the site was £1.2 million and the LTV used was 50 per cent. The security for the deal was a first charge on the site, a debenture and three guarantees worth £100,000 each.

Commenting on the deal, Sean McCaul, MD of McCauls, said: “Goldentree helped us with a funding solution at a time when we were finding it difficult to source the finance we needed. Their service and professionalism was spot on, in particular the speed and efficiency of Simon Ismail and Joanne Parr. I would not hesitate to use them again or recommend them to another developer.”

Goldentree Financial Services

have also been running a free online football competition called ‘Goals Galore’ and would like to congratulate the inaugural winner, Richard Huxley, who won £1,000 playing the free weekly competition. Watch out for their Goals Galore Euro 2012 Competition coming soon, and next seasons Goals Galore.

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