£25.13 million strong London suburb location
100% speculative development finance with a 45% profit share to the lending bank
The development is located in a prestigious London suburb.
It consists of 48 detached/semi-detached houses.
The development will be phased with a peak requirement of £25.13 million.
Normally 100% finance consists of senior debt, mezzanine and equity (perhaps from different sources) each requiring their own legal structure.
New to the UK market is an overseas bank experienced in lending 100% on speculative residential developments.
In this instance, the experienced developer was offered two alternative profit share structures:
- 50% (the bank) : 50% (the client) side by side profit distribution
or - 45% (the bank) : 55% (the client) with the bank’s 45% being a priority.
The client has chosen structure 2.
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