Part Built Ground Up - Bridge to Finish Works

COMPLEXITY SCORE: 10/10

THE CHALLENGE

A developer was left with three unfinished residential apartments after their builder walked away. The project had an outstanding £430K bridging loan, approximately £150K of works still required, and a projected £750K GDV. The problem was simple: there wasn't enough headroom within the development itself to raise everything required.

THE COMPLEXITY

• Existing £430K bridging facility needed repaying

• Approximately £150K required to complete the works

• Three partially completed residential apartments

• £750K projected GDV

• Insufficient equity within the development to fund the entire requirement

  
  

THE STRATEGY

£430K EXISTING BRIDGE+£150K COMPLETION COSTS↓FUNDING SHORTFALL IDENTIFIED↓ADDITIONAL PROPERTY LEVERAGED↓DEVELOPMENT FINANCE STRUCTURED AROUND £750K GDV↓

PROJECT COMPLETED

THE RESULT

Always Wright looked beyond the development itself. Rather than treating the insufficient headroom as a dead end, we assessed the client's wider property position and identified additional security that could unlock the missing capital. This allowed us to restructure the transaction around two assets — using the additional property to solve the funding gap while structuring development finance around the completed value of the three apartments.

The client was able to address the existing bridge, fund the remaining works, complete the development and ultimately realise a profitable exit.

The property wasn't the problem. The structure was. So we changed the structure.

KINGS OF COMPLEX

Other brokers saw insufficient headroom.

We found additional equity.

Complex deal. Different thinking. Delivered.