Funding to Purchase & Develop a Site of 12 Detached Bungalows

Our client, a small local developer, approached us requesting funding to purchase and start developing a 12 plot site in Carnwath, South Lanarkshire.

The development site comprises 12 detached 3-bed bungalows, in the small picturesque village of Carnwath.

To improve cash flow and minimise upfront capital requirements, the client needed a deal structure that included a deferred payment element.

Lowry Capital provided £340,000 in funding, for both the purchase and initial development of the site with a deferred payment element incorporated into the structure.

We are set to make more funding available as the build progresses. 

The build is progressing well and with our funding: groundwork is underway, timber frames have been erected and new access roads laid across the site.

We have no doubt the client will complete the build to the highest standard and provide some much needed homes for the area.

Development Site