Pallas Capital completes £3m development loan for Pembrokeshire housing scheme
By Bridging Loan Directory
Pallas Capital has completed a £3m residential development loan to fund the first phase of a housing scheme in Roch, Pembrokeshire.
The 20-month facility, structured at 65% LTGDV, will support Phase 1a, comprising 10 residential houses delivered by an experienced developer with a strong track record in the local area.
The deal was introduced by Laurie Baugh at Approved Finance.
The site’s complex title and unregistered land required detailed due diligence, which can often delay or prevent funding. By working closely with legal partners, Pallas was able to structure a solution and progress the deal.
Jamie Peacham, Underwriter at Pallas Capital, commented:
“This deal required a pragmatic, commercial approach to navigate its complexities.
We’re pleased to see the project move into construction and look forward to supporting the client further as the site progresses.”
Pallas is also in discussions to support future phases of the development, reflecting an ongoing relationship with the borrower.
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