Development deal in real time: Part 3

Development deal in real time: Part 3

A series of updated monthly instalments looking at a real life development case study, which will include pictures of the sites and details and hurdles the development faces.


Last month, we brought you the second in a series of monthly instalments looking at a real life development case study, which includes pictures of the site and hurdles the development faces. This month we hear the latest about the development’s progress…

Progress continues to be good on site, the wet weather has continued intermittently over the last few months which has caused delays to some projects but fortunately, the borrower in this particular project has managed to progress well and is now working on the second stage which is wall plate. Works on the site have been slightly delayed for this reason but completion of the shell should be finished in the next month.

Nick Warren, who heads the lending division at Regentsmead, commented: “The summer months are notoriously quiet for most businesses; borrowers invariably find their respective projects take a little longer as they try to juggle the various trades which are required. The borrower in the case study is making excellent progress and his workmanship to date has been first class. The house is situated in a very desirable part of the country and with the intended finish it should be an easy property to sell.”

Simon Molsom of Gaskell Construction Consultants, who are the acting surveyors on the scheme, commented: “Works on site have started off to a very high standard. The client has been able to make swift progress with the aid of our support and the immediate available funding which Regentsmead has provided. Cash flow is king in any business and this is certainly a pivotal requirement for a developer looking to maintain site activity. Whilst monies are in short supply the client can relax knowing that Regentsmead is there to support their every step of the project as they have done so for numerous other clients.”

The weather can have a big effect on how swiftly a development completes and borrowers who are in the early stages of a project will now be focusing on reaching a water tight position as soon as possible. Once a development is water tight the effects of the weather are less important as works can be undertaken internally.

The developer comments ‘Regentsmead are a highly efficient lending service who have enabled me to continue works on site without any financial problems. They are a true lender who delivers which is paramount in today’s market’.


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