Client type: Property developer
Loan type: Bridging finance
Amount lent: £230,000
Location: Altrincham, Cheshire
Term: 15 months
Exit strategy: Sale of one completed property
The challenge:
A property developer needed funding to build two semi-detached houses in Altrincham, Cheshire.
With the foundations already in place, the client needed finance to support the next stages of construction. They also needed flexibility around the build programme and the eventual sale of the properties.
This was effectively the client’s first ground-up development. However, they had a strong track record of delivering extensions and refurbishment projects. Alongside an experienced professional team, this gave Goldentree confidence in their ability to deliver.
What they needed:
The client required a funding solution that would support the development while providing a clear route to repayment.
This included:
- £230,000 in development bridging finance.
- £75,000 released as equity on day one.
- Funding for the construction of two semi-detached properties.
- A flexible facility aligned with the development programme.
- A clear exit strategy through the sale of one completed property.
- A streamlined legal process to keep completion on track.
Our approach:
Goldentree structured a £230,000 build-cost facility around the two properties and their individual construction stages.
The funding was split between the developments:
- Property A: Goldentree would fund the complete construction.
- Property B: Funding would cover construction through to wind and watertight stage.
Once Property A was complete, the client planned to sell it. The sale proceeds would provide enough funds to repay the Goldentree facility and finance the remaining construction of Property B.
Speed was also important. Following the site visit, Goldentree issued a credit-backed offer in just six days.
Meanwhile, our in-house solicitors managed the legal process. This helped keep communication straightforward and the transaction moving towards completion.
Funding solution:
The 15-month development bridging facility provided £230,000 in funding, including a £75,000 equity release on day one.
By structuring the finance around the construction stages, Goldentree gave the client a practical solution that worked with their development plans.
It also provided a clear exit strategy, with the planned sale of Property A releasing the funds needed to repay the facility and complete Property B.
The result:
The £230,000 facility completed on time, giving the client the funding needed to progress with both properties.
From the initial site visit to a credit-backed offer took just six days. This demonstrated Goldentree’s ability to assess opportunities quickly and structure finance around individual projects.
The client’s previous property experience and established professional team were important factors. Combined with our in-house legal expertise, this helped deliver a straightforward transaction.
At Goldentree, we look beyond the project on paper. We take the time to understand the people, experience and plans behind each opportunity. This allows us to provide practical bridging and development finance solutions that help property professionals move forward.
Discover our Bridging Finance Solutions today or speak to the team.
