Hope Capital delivers £14m funding through hat-trick deal

By Bridging Loan Directory 4th October 2024

Specialist short-term lender, Hope Capital, has revealed it has completed three deals for a repeat borrower totalling £14m.

Working with Chris Johnson at Bespoke Property Finance Consultants Ltd, the lender assisted their client with various investment projects across the North West, demonstrating their commitment to forging strong relationships and delivering a continuous efficient service.

The first case was first presented to Hope Capital in 2021, involving a heavy refurbishment project, where the lender provided the funding required, so the borrower could convert a vacant freehold former pig farm into twelve private dwellings.

Secondly, Hope Capital provided the initial funding and the refurbishment facility to construct a former motel/restaurant into nine newbuild detached homes, enabling the client to successfully complete the projects.

Finally, the borrower recently approached the lender with a brand-new project comprising building eight residential homes on a former farm, where Hope Capital provided the required facility at 70% LTGDV to complete the works within their desired timeframe.

Through their offering, Hope Capital has been able to deliver various features to ensure each deal would be delivered efficiently and in a timely manner.

This includes funding 100% of work costs in arrears and monitoring being undertaken by their established QS partner.

Jemma Wood, Head of Portfolio Management at Hope Capital, commented:

“This is a prime example of how delivering a good service complimented with a strong offering builds fantastic relationships.

It’s been a pleasure working with Mark and Harry over the years, and on behalf of the team, we would like to say a massive thank you to Chris Johnson.

Having the opportunity to work with a local broker and borrower to help fund three fantastic developments in the North West region is something we’re particularly proud of and we’d like to thank all of the other parties who have been involved throughout the various cases for their support.

Working collaboratively is at the heart of what we do and while there have been challenges presented along the way, it’s rewarding to see our flexible approach has created a positive outcome for the client every time, especially for the latest deal we have completed.”

Chris Johnson, Bespoke Property Finance Consultants Ltd, added:

“It’s been a pleasure working with Hope Capital and our existing clients Mark and Harry Atkinson on these exciting projects, especially the new prestige housing development in Preston.

The structure of the facility, linking in the ongoing development in Charnock Richard, has enabled us to structure a bespoke facility to assist with the purchase and development of this fantastic scheme.”

Hope Capital’s client, Harry Atkinson, added:

“Thank you once again to Hope Capital for helping us complete another fantastic project.

During the time we have worked with Hope Capital, there have occasionally been challenges to overcome, however their team have always been extremely efficient to ensure a solution could be delivered.”