Conversion of a 150 Year Old Traditional Stone Church into 2 Stunning Family Homes
Our client an experienced developer who we have worked with previously, came to us directly, requesting funds to convert a 150 year old, traditional stone church into 2 stunning 4 bedroom homes.
The existing site, located in a small town near Fife, is comprised of a traditional church building and an adjoined church hall.
Our client has obtained planning permission to convert and repurpose this beautiful old building into 2 stunning 4 bedroom family homes, complete with multiple en suite bathrooms, high quality finishes and an impressive double height open plan kitchen dining area.
We have initially funded £177,500 which will cover the development costs of the first house in the main church building. We will then be able to make more funds available at a second drawdown for the development of the church hall.
The GDV of this development is £850,000 and we have no doubts that our client will be able to complete this development to the highest of standards.
Existing Site:
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Proposed Development
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Our Development Funding:
- Lowry Capital is a lender of development funding. We provide loans of up to £4million within a few days.
- As a principal lender, we lend our own money and make our own common-sense lending decisions.
- We provide an award-winning service and you will always deal directly with a decision maker.
- No upfront arrangement fees, no solicitors cost undertaking, we share a genuine desire to get a deal done.
- Hands off lending approach: You choose and manage the professionals and contractors for your development.
- Previous development experience not essential.
- Our streamlined and highly efficient lending process guarantees ease of funds and speedy delivery.
- We provide developers with flexible, bespoke funding, tailored to fit your schedule of works.
- Funds can be drawn down in multiple tranches and you will only pay for the money actually drawn, keeping finance costs to a minimum.
- Our funding helps with your cash-flow and allows you to keep significant funds from the sale of units.
- Development funds can typically be drawn-down within 10 days.
- No proof of income required.
