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 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 finance 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.

Alex Chambers

Senior Finance Broker

Bristol

0117 403 4324

Have a similar situation? I'm a specialist in residential and investment property finance for UK and international clients. I look forward to hearing from you.

Luther Yeates

Finance Broker

Bristol

0117 244 5561

Have a similar situation? I am a specialist in residential and investment property finance for UK and international clients. I look forward to hearing from you.

James Palmer

Senior Associate

London

0203 900 4322

Have a similar situation? I specialize in development and commercial finance and can provide creative solutions for your property funding requirements.

Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Have a similar situation? I specialise in bridging finance and can provide creative solutions for your property funding requirements.

Robert Gibb

Senior Finance Broker

Bristol

0117 959 5094

Require mortgage or short term finance for residential or buy to let property (including HMOs and limited companies)? I have extensive experience on providing property finance solutions for UK and International clients.

Adam Arnott

Associate Director

Bristol

0117 205 0214

Are you in a similar situation? I have extensive experience in advising clients on providing creative property finance solutions. I look forward to hearing from you.

Contact Us