11 March 2019
Berwyn View – the attractive and rewarding (for CapitalStackers investors) residential development in the pretty Cheshire village of Malpas – is moving forward with investors now funding Phase 2A of the development.
Of the eight houses built in Phase 1 of the 22 unit development, five are already sold, two are complete and one is nearing completion (and under offer). Investors received annualised returns of between 10.70% and 15.62% in the nineteen months leading up to the refinance in August 2018.
CapitalStackers orchestrated repayment of the first phase by refinancing with the original senior lender, RBS, enabling the developer to stay within RBS’s lending criteria and also free up some capital to start on Phase 2 infrastructure works.
To say that the refinancing deal with this very talented developer was popular with investors would be an understatement – the new £810,000 loan for Phase 1B was fully subscribed in just 31 minutes!
In parallel, CapitalStackers introduced Hampshire Trust Bank to provide the £1,456,000 senior debt for Phase 2A, and then invited investors to plug the funding gap of £275, 000. Within a Loan-to-Value range of 67% and 73%, these investors can expect returns of between 10.61% and 13.84%.
The developer, Patrick Lomax, was equally happy – and effusive in his praise of the CapitalStackers process, saying, “Sylvia and Steve are just brilliant. Dealing with CapitalStackers is a very pleasant experience in what is by far the most difficult area of the construction business. They’re useful, helpful, informative and easy to talk to.”
He went on to say, “It’s great that small construction firms have access to this kind of funding to get projects off the ground so that the big firms don’t get to dominate everything.”
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