While the summer may traditionally be a quieter time of the year for many businesses, CrowdProperty bucked the trend by funding £100million in property development projects within the last quarter.
Our team of experts continued to be busy throughout July and August, helping provide valuable financial support for UK-wide residential and mixed-use property developments.
More specifically, we had funded a total of £700million in property projects by the start of July. Three months on, that figure has risen to over £800million. This achievement means we have now funded the development of 3,399 homes and agreed £460million of facilities to date.
The projects funded during this period covered a range of developer requirements, including:
- A £490,000 Bridging Loan to purchase a property in Chepstow;
- A Development Finish & Exit loan of £835,000 for the completion of the final five plots of a nine-unit scheme in Huddersfield;
- A Commercial to Residential Conversion Loan in Aberdeen, requiring £1,430,000 to develop 17 apartments;
- An Airspace Development Loan of 10 new units above an existing 24-unit apartment block in London, requiring a total facility of £2,826,000;
- A £5,220,000 Ground-Up Development Loan of five luxury homes in Walsall;
- A £6,100,000 Modern Methods of Construction Development Loan for the development of 24 modular construction units in Bideford.
Damon Walford, Chief Commercial Officer at CrowdProperty, noted that “CrowdProperty’s in-house property expertise is well-regarded in the market, meaning the business receives over a billion pounds of applications every quarter. We are able to understand and progress viable development projects - no matter the complexity or stage of development - funding reliably at volume thanks to multiple sources of institutional capital. We remain well placed to continue our growth trajectory for the remainder of 2023 and into 2024.”
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