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100 deals at 100 per cent for Solihull-based development finance company
03/05/07
G&C Finance has provided 100 per cent funding for its 100th development just two years after it was launched by developers, Gallagher and Countrywide Property Holdings.
The Solihull-based company, which also has offices in Cardiff and Leeds, has secured deals worth more than £500 million in the past two years and is now established as one of the country’s leading 100 per cent development funders.
Managing director Adrian Willet said: “We are extremely proud to have reached the 100th deal milestone in such a short time and with the large amount of serious enquiries and repeat business we are now enjoying, we look forward to continued expansion of the business.
“The 100 per cent development finance sector is becoming increasingly competitive but our range of funding solutions and positive business ethos has ensured an extremely successful period for G&C.
The ongoing shortage of quality housing, the thriving buy to let market and the consolidation of some of the country’s biggest house builders has seen rapid expansion in the 100 per cent finance sector as more and more small developers turn to companies such as G&C Finance.
However, Adrian is confident that G&C offers more than any of its competitors. He said: “Our pledge to evaluate any proposition within 48 hours is of great benefit to existing and prospective clients and stands us apart from our competitors. Additionally, by offering a complete consultancy service through the life-cycle of a project, from land acquisition all the way through to project marketing, we are giving each scheme the best possible chance of success.
“The team at G&C has been purposely recruited for its wealth of property and financial experience and expertise it can bring to a deal and the confidence this gives banks pays dividends for the many clients who are returning to G&C to fund a range of projects.”
Paul King, finance director of G&C and one of the founding members of the business, said: “G&C has grown into a credible national player in the development finance market but we will not rest here. Further expansion plans are envisaged and we aim to be the principle provider in our field within the next three years. In fact we are well on the way to achieving that goal.”
The last 12 months have been especially busy for G&C with the opening of an office in Cardiff last summer to service the south west and south Wales and then earlier this year in Leeds to service the north of England and Scotland.
One of the company’s biggest clients in the south west is Bristol-based developer Urbis who have now taken advantage of G&C’s 100 per cent funding offer for three of their schemes in the city and are currently looking at further sites for development.
Urbis managing director Richard Clarke said his company had now established a significant presence in Bristol and the support of G&C Finance had been essential in this process. He said: “Land supply is at a premium in Bristol with several companies competing for every development opportunity so the speed with which G&C agreed to support our schemes and then provide the finance has been invaluable.
“We are currently negotiating more potential development opportunities across the city and with the support of G&C Finance we have great confidence in what the future holds for Urbis.”
In the Midlands, Elegant Homes was one of G&C’s first clients to benefit from the company’s 100 per cent funding offer and established a reputation for constructing high quality properties in some of the region’s most sought after areas.
Company director Barney McElholm said Elegant’s relationship with G&C Finance had flourished because the 100 per cent development funder shared his company’s vision for creating excellent houses in desirable locations.
He said: “Elegant Homes has been successfully trading for more than a decade but our relationship with G&C Finance over the past couple of years has allowed us to elevate the business to a new level with five sites currently funded through G&C.
“We have a great relationship with the team at G&C and because they understand the Elegant brand, business ethos and the property market we can sit down with them and develop ideas for schemes before they get anywhere near the drawing board.
“G&C have also helped us acquire land for one our recent projects and the company’s full consultancy service has been of great support in ensuring the smooth running from day one of all the projects in which we have worked together.”
G&C Finance are 100% development funding & finance experts.