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First customer keeps coming back to G&C Finance
15/06/07
One of the first customers of fast-growing development funding specialist G&C Finance is celebrating its fifth deal with the company following a string of successful collaborations worth more than £14 million.
Elegant Homes, run by managing director Barney McElholm, turned to Solihull-based G&C Finance and relationship manager Neil Cooper at The Royal Bank of Scotland almost two years ago to provide 100 per cent development finance in their first project together at Blossomfield Road in the borough.
Following the success of that development, which consisted of 12 luxury apartments and one bungalow off Blossomfield Road in Solihull, G&C have financed four more schemes with the latest being four bespoke bungalows off School Lane and Bushell Drive in Solihull.
G&C Finance’s Iain McArthur, who has worked with Elegant Homes on every one of the five projects, said: “The professional working relationship between Elegant Homes and G&C Finance is extremely strong which has been built upon with every project which we have funded.
“Elegant Homes is a very professional development business which understands its customer needs and this is reflected in the design and specification of their properties.
“G&C recognise Elegant Homes’ strengths and have made a pledge to Elegant Homes to source future development opportunities which has been successfully achieved on their third scheme for seven luxury homes off Hampton Lane in Solihull.”
Other Elegant developments funded by G&C in the past two years include eight luxury apartments off Beechnut Lane with a GDV of £3.85 million and a mixture of six detached, semi-detached and bungalow properties on Boden Road in Hall Green worth more than £2.6million.
Mr McElholm, who co-founded Elegant Homes in 1993, said the ongoing relationship between the two companies had allowed Elegant to significantly increase the number and scale of its developments.
He said: “From the very beginning we have been impressed with G&C’s refreshingly straightforward approach. They have a team that understands property development and what it takes to deliver a quality scheme.
“Knowing that there is always a strong team with expertise in both the financial and development elements of the industry to fall back on offers an added peace of mind for ourselves and in Iain we have a project director who is always around to bounce off ideas and to help in any way he can.”
With its headquarters in Solihull, G&C Finance has provided almost £400 million of development funding in the past two years and has recently opened a new office in Leeds, six months after launching an operation out of Cardiff covering the south west of England and south Wales.
As well as offering 100 per cent development finance, the company also pledges to make in principle funding decisions within 48 hours and is unique in not demanding personal guarantees from its developer clients.
G & C Finance, 100% development finance, 100% residential finance and development funding specialists.