Converting Two Old Tin Mining Cottages Into a Luxury Hilltop Home
We were approached by a developer who was part way through converting two old mining cottages into a large, luxury hilltop home in Cornwall.
The property, constructed of Cornish Granite, has breathtaking panoramic views of St Austell and the local area and sits on 26.8 acres of land.
The client was introduced to Lowry Capital after having funding pulled by another lender, days before completion.
The project was legally complex, and all parties had to persevere and work towards a solution which worked for both Lowry Capital and the client.
Lowry Capital funded £666,250 across multiple tranches and using our streamlined lending process the developer was able to resume development of the property and quickly complete the remaining build to the highest standard.
The result is a stunning contemporary home, complete with an office/ studio, annex, en suite bathroom and a fabulous reception room.
The beautiful property is now listed on the market for £1,695,000 and the client is expected to make a healthy profit.
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Finished 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.
