We provide commercial development finance to assist with the development of commercial properties which are wholly or significantly pre-let and where the lease terms and tenant quality are acceptable in terms of obligation and covenant.
We are active in most sectors of the market, and will consider finance for office, retail, industrial and mixed use developments.
We would generally expect repayment of the loan provided to come from the sale of the property or refinance within the agreed period, post completion of the development. However, we can structure loans to allow the developer to hold the property to first rent review if necessary.
When considering commercial development finance, emphasis is placed on the project and management team employed to deliver it and a very significant element of our lending is non-recourse.
Provided that lease terms and tenant quality are acceptable, we will generally lend up to 80% of the resultant investment value for pre-let commercial developments.
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