A conversion for the local community
Due to an unforeseen change in local accommodation requirements, our client pivoted mid-development to deliver much needed social housing.
We provided a £2.6m, 15-month super-stretch senior development finance facility to an international development team.
This project had a positive impact in Hastings, creating 47 quality new homes to an underserved section of the local community with support from the local council and the YMCA. We were delighted to help our client deliver much-needed social housing, while our exit was assured as the site was pre-sold and exchanged to a renowned social housing provider.
Gross Loan
£2.6M
Term
15 Months
LTV
85%
Units Created
47
Exit Method
Pre-sale
“This will make a huge contribution to local housing need by supporting young people in Hastings with housing and support needs to have a home of their own and the support they need to maintain it.”
- Hastings Borough Council
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