We may be still reeling from the news from America but, in the meantime, the new homes market continues to perform well for us and our latest development launch is proving the point.
Newly launched is our latest development of luxury apartments in the pretty coastal town of Whitstable, Kent. The development uniquely combines a truly excellent location being within an easy walk of the town centre and beach, stylish interior design and the opportunity for each resident to create a bespoke level of finish to enhance their lifestyle. With prices from just £199,950 these homes remain at an affordable level for a wide range of potential buyers and accordingly there have quickly been 7 off-plan reservations.
Our experienced developer client has made good use of their thirty plus years of development experience to produce a design that sympathetically blends into its surroundings. The project features an Edwardian façade with a choice of 13 one bedroom apartments and 9 two bedroom apartments, each accessed via a lift. Each unit will also be sold with a private parking space.
The development will also have two high quality commercial retail units. Of these the developer has secured a pre-let on a 15 year lease @ £20/sqft to a PLC retailer and relocated the town’s post office into the new development.
Saxon Trust (previously Calmez) have supported this project with property development loans in the form of mezzanine funding of £1.2 million on a rolled-up interest basis over a term of 18 months. The total GDV will be in excess of £7.5m.
For further information on this project and other examples of our property development loans then click here.
Saxon Trust offers property development loans to developers and builders with proven track records and whom meet the lending requirements of both our prime lender as well as our own. For more information on property development loans then please contact us here or by calling 0203 3710 511.