West One Loans completes £5.5m development finance facility

By Bridging Loan Directory 14th February 2019

West One Loans, a specialist bridging loan, second charge and development finance lender, has teamed up with ME Developments – an experienced Farnham based venture capital group with expertise in property development – for a £5.5m development finance facility.

The facility is funding the construction of five – high specification, five bedroom homes, each home will cover 3,600 square feet in a highly desirable area of leafy Hampshire.

With a target Gross Development Value of over £9.5m, this project will offer great value to the area at a competitive cost per square foot.

The construction is expected to take approximately 9 months, with sales to follow shortly afterwards.

Simon Marshall, CEO of ME Developments, commented:

“We’re delighted to team up with West One Loans who we have worked closely with in the past and have proven to be a responsive and flexible finance partner. Like all ME projects, this will deliver high quality property in a beautiful location”

Stephen Wasserman, Managing Director, West One Loans said:

“This is a great opportunity to support an experienced developer in funding an impressive scheme which is sympathetic to its semi-rural surroundings. We’ve worked with ME Developments on previous projects and they always deliver an extremely good product..”