Funding to Convert an Old Agricultural Barn into 2 Contemporary Houses
Our client, an experienced developer, came to us requesting funds to convert a large agricultural barn into 2 stunning contemporary modern homes.
The client had purchased the barn with planning permission to turn it into two semi-detached, four bedroom houses.
A highly skilled developer working with experienced local tradesmen, they had previously built a number of properties from the ground up in the local area.
They had initially funded the development with their own money, however after their previous lender pulled out, they needed to release more capital in order to complete the build.
Lowry Capital provided £641,000 towards the development of the property across multiple drawdowns and through our streamlined lending process, the client was able to quickly complete the rest of the build to the highest standard.
The properties were put on the market for £1,500,000 (£750,000 each) and the client had accepted an offer within days, and is now set to make a healthy profit
These unique properties are 2 perfect examples of quality modern barn conversions, complete with 2478 sq ft of floor space, open plan living and underfloor heating.
Development Site
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Completed Property
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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.
