Funding to Convert a Derelict Listed Building Into a 3 Bedroom Family Home
Our client came to us directly, requesting funds to convert a derelict listed building and former stables into a detached 3 bedroom family home, in Brechin, Scotland
This client, who we have worked with previously, had an excellent track record of developing properties across Scotland, so we had no doubts that he would complete this highly ambitious new development to the highest of standards.
The existing property had fallen into significant disrepair, with crumbling walls, a collapsed roof, and extensive vegetation growth overtaking the structure. Years of neglect had left it in a precarious state, with structural weaknesses, water damage, and decay throughout.
Lowry Capital provided £138,000 over 3 tranches for the development of the property and thanks to our fast & easily accessible funding, allowed the developer to complete the build in only 5 months.
We are delighted to see how our funding has enabled the developer to transform this derelict listed building into a beautiful family home, finished to the highest standard.
The property is now on sale for £260,000 with the client standing to make a healthy profit. We look forward to working with this client again on their next development.
Development Site at Purchase
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Site After Lowry Funding
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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.
