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100% funding enables Stratford developer to seize village opportunity
19/07/06
Avoncroft Homes in Stratford upon Avon has scooped a £1.6m development opportunity ahead of national competition using property finance specialists, G&C Finance, for the first time.
The niche developer has called on the Solihull based funding experts to help deliver six exceptional character homes in the Cotswolds. The agreement, negotiated in less than three months, has helped boost the growth activity of Avoncroft Homes in the Cotswold marketplace.
The developer is transforming a 0.5 acre disused garden site, situated within half a mile of the picturesque market town of Chipping Norton. The homes include a terrace of four properties of which two are two-bedroom and two are three-bedroom. There are a further two, three-bedroom, detached homes that complete the scheme.
Enabling works have been completed and the main structure work begins this week. The eight-month build programme, using local Cotswold stone, is due to complete in early February 2007.
Jonathan Dyke, Project Director of Solihull based G&C Finance Ltd commented: "Avoncroft Homes are hungry for the opportunity to achieve more in the marketplace and G&C has delivered the perfect vehicle to get them there. We are delighted that our 100 per cent funding facility has paid off projecting Avoncroft onto the next tier of growth, well ahead of its planned business forecast, as well as delivering a superb collection of character filled new homes for those looking to enjoy the Cotswolds lifestyle."
Arundel View is positioned just a short stroll from the town centre in a well-established residential area of existing traditional Cotswold homes. The new homes will be released for sale in the autumn. Sale values ranging between £225,000 and £330,00 are anticipated. All homes will have a car port as well an allocated car parking space all set amidst landscaped gardens.
Graham Lewis, Managing Director of Avoncroft Homes said: "The disused garden space was an ideal opportunity and not one that Avoncroft Homes had planned on securing. However the G&C approach has delivered something entirely different to the marketplace. I know that they base their decisions, not only on company track record, but also on the calibre of the individuals behind the deal and I was keen to talk to them about using this alternative financial resource facility with, I am delighted to say, success.
"The way that G&C Finance evaluated this funding decision was refreshing and has enabled our company to seize this opportunity from an extremely strong financial position. Without their help this innovative scheme may have fallen by the wayside."
Established in 2004, G&C Finance Ltd has re-written the rulebook for funding new developments. The company has secured £300m of new residential and commercial business in the last 12 months and is forecast to enable a further £300 million of new development to get off the ground within its next year of trading, which is likely to consist of over 60 individual residential and commercial schemes.
By making an industry breakthrough to fully finance small to medium size developments with or without planning permission, G&C Finance Ltd provides impartial strategic advice to enable developers to access 100 per cent financing, with all projects commanding a gross development value in excess of £1million being considered.
G & C Finance, 100% development finance, 100% residential finance and development funding specialists.