Development Funding for a Luxury 5 Bed Detached House
Our client, an experienced property developer, came to us requesting funding to build a luxury detached 5-bed house in Cheshire.
The clients were keen to drawdown the funds in stages, in line with their schedule, to ensure finance costs were kept to a minimum.
Initially, Lowry Capital provided a loan of £100,000 while the property was at foundations stage and worth £250,000.
The client used these funds to erect the structure and then got the property re-inspected by the original surveyor, who confirmed good progress had been made achieving an uplift in value to £350,000.
We then provided a further £70,000 (just 5 weeks after the original loan) and then provided further funding of £84,000 2 months later, when once again the surveyor confirmed further progress and another uplift in valuation.
In total we provided £254,000 in funding for the development of the site across 3 drawdowns.
The final result is a stunning 5-bedroom detached home completed to the highest of standards and another fantastic example of how Lowry Capitals flexible development funding can support projects through every stage of the build.
The property hit the market and sold instantly for £750,000, delivering a healthy profit for our client, who is now using the proceeds to enjoy a well-earned retirement abroad.
Funding Stage 1
 |
 |
Funding Stage 2
 |
 |
 |
 |
Funding Stage 3
 |
 |
 |
 |
