Bridging loan for Scottish wind turbine development

Area
Lanarkshire
Capital Raised
£974K

The Scenario

Our clients are a group of property entrepreneurs who were looking for specialist property finance to take their renewable energy project to the next stage.

The stakes are high in schemes such as these: the land they had bought in Lanarkshire was currently valued at £1.5M. They were looking for a £974K bridging loan to finance the designs, valuations and consultants necessary to put through their planning application to build two wind turbines, a data centre and eco park.

With planning permission granted, the uplift in value would be £14.5 - £16.5M.

After Stage 1, when the eco park is built, the estimated value of the land is £65M, and after Stage 2 when the turbines are in place the project value is in the area of £125M.

The Solution

Despite the scale of the development, this was an attractive proposition for a lender because there had been planning permission in place for the site, which had lapsed.

We secured the one-year bridging loan our clients were looking for at a market rate of 1% a month, with a 2% product fee, and 2% on exit. Their exit is in place: refinancing by specialist London lenders experienced in build projects of this kind.

Mathew Phillips

Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

Luther Yeates

Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance? I have extensive experience finding residential and investment property finance for UK and international clients. Please get in touch and we can arrange to discuss your situation at any time that's convenient for you.

James Palmer

Senior Associate

London

0203 900 4322

Are you looking for similar property finance? I specialise in development and commercial finance for Clifton - I can find creative and commercially effective solutions for your project.

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar? I am a bridging finance specialist at Clifton. I can find a quick, cost-effective solution for the funding you're looking for.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.

Adam Arnott

Associate Director

Bristol

0117 205 0214

Is your situation similar to this? I have extensive experience of advising clients who need creative property finance solutions. Please get in touch and we can arrange a time that suits you for a detailed discussion of your requirements.

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