Christie Finance secures £2.18m development facility for residential project
Christie Finance is pleased to announce the successful arrangement of a £2.18 million development facility for Gooseacre Limited, supporting the acquisition and construction of four new homes.
Led by Ram Kakar, this transaction enabled a first-time development client to move from property investment and refurbishment into ground-up residential development. Despite the client’s lack of previous development experience, Christie Finance structured a bespoke facility at 65% Loan to Gross Development Value, with a 55%-day one advance, and addressed requirements around personal guarantee exposure and a complex ownership structure.
The funding package was delivered over a 15-month term and included both the purchase and build costs. Interest in the homes was strong even before construction began, reflecting the appeal of the project and the strength of the client’s professional team.
Ram Kakar from Christie Finance commented, “We are pleased to support our client in arranging this facility for their residential development. The demand for the units is already through the roof, and we are confident they will exceed expected sale levels. This project highlights Christie Finance’s ability to deliver for both trading businesses and property investors.”
The client plans to pursue further residential developments in the future.
Get in touch with our broker today:Ram Kakar
Head of Real Estate
E: ram.kakar@christiefinance.com
T: +44 7764 241 349