100% JOINT VENTURE DEVELOPMENT FUNDING
HOW WE WORK
- We like to work with experienced developers.
- Projects would be multi-unit residential new build or conversions under PDR* in the mid-range price bracket.
- Project length should be no more than 24 months.
- Full planning permission must already be in place.
- GDV target of £2m-£10m. GDV per unit should be no more than £700k for Home Counties and £400k for other areas.
- Interest is charged on a blended mix of senior and mezzanine elements which is competitive.
- We work to ROCEs (Return On Capital Employed).
- Profit is divided between JV partners, typically it’s 60/40% in the developer’s favour.
- We will hold the asset in a brand new Special Purpose Vehicle (SPV) owned by us.
*Permitted Development Rights – Commercial conversions to residential under PDR planning.