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G&C Finance expands into Wales with £100m funding commitment
10/08/06
Midlands based G&C Finance is set to launch a first regional office outside its Solihull headquarters, committing £100m of funding capital to residential and mixed use development projects across Wales and South West of England property market.
The new office team, based in Cardiff, will take over responsibility for the portfolio of 20 sites that are currently under construction, or in negotiation in the catchment area, at the beginning of September.
Commenting on this expansion, Adrian Willet, Managing Director of G&C Finance said: "Without doubt, the continuing flow of serious enquiries from this part of the UK warrants the opening of a dedicated regional office to properly service the level of enquiries being generated. The economy is buoyant and loaded with development opportunities and we are obviously keen to maximise on the momentum we have already achieved in the marketplace.
"Such is the belief that there is strong demand for this form of finance from active and emerging developers that we have set aside £100m to fund residential and mixed use development projects across the Region, and with this level of capital injection it believes that the Regional Office will very quickly emulate the success of its Head Office operation in Birmingham."
Providing impartial property advice, G&C was set up almost two years ago to enable developers to access 100 per cent development finance to fully fund small to medium sized residential and mixed-use speculative schemes, as well as bridging finance and other bespoke forms of property lending.
Headquartered in Birmingham, G&C Finance has recently announced a total of £60m of national development funding for the first quarter of 2006. Securing a total of 60 residential and commercial deals during the last 16 months, the specialist development financiers have generated in excess of £300m of new development. The new regional team is set to fund between 25 and 30 property deals over the next year within the South-West and Wales catchments area.
Recently appointed Regional Director, Steve Taylor, added: "I am absolutely delighted to be on board in what is no doubt an exciting time for property lending. G&C Finance was established to enable ambitious quality developers to fund opportunities they would not normally be eligible for and I know that there is a fast growing demand for us in the Wales and South West area. By using our services, small to medium sized developers have access to a fully skilled team who offer construction, sales and marketing as well as funding and other consultancy advice all under one roof."
Irrespective of size and location, with or without planning permission, G&C will consider funding for the purchase of land, construction and related costs of all projects with a projected gross development value in excess of £1.5 million.
Although not the first company to offer 100 per cent development finance, the company is turning the market on its head by making a commitment to arrive at an initial decision within 48 hours rather than the industry standard of four to six weeks
G&C Finance aims to be the largest national property financier in the UK within the next three years. It offers 100% development finance to fully fund residential and mixed-use developments, including purchase of the land, construction and related costs.
Launched in November 2004, G&C Finance has rewritten the rulebook for funding new developments offering creative and flexible financing solutions for a wide range of developers. It differs from industry competitors by providing 100 per cent finance for developments, both with and without planning permission, as well as bridging loans.
The firm has already made an unprecedented impact on the national property market and the majority of projects generated to date have been secured due to the team’s expertise and its extensive list of regional and national developer contacts.
G&C Finance are 100% development funding & finance experts.