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Start-up developer clears £11m turnover within 18 months of partnership with G&C
20/11/06
An ex-Laing Homes Land Director is set to enjoy an £11m turnover of prime hat trick residential deals within 18 months of going it alone, reveals Solihull headquartered G&C Finance, the 100 per cent residential development funding specialists.
The former Leamington Spa based plc director, Phil James, launched Sharba Homes in June 2005 in joint partnership with his wife Gill. Last month the entrepreneurial firm submitted detailed planning on a fourth site west of Oxford. Subject to planning, work on this £3.5m ten home scheme will start in Easter 2007.
Iain McArthur, Project Director for G&C Finance, said: "Phil’s scenario is a perfect example of what can be achieved using the G&C partnership approach. He has gained optimum results on all his schemes using his technical and planning expertise and drawing upon the consultancy service of G&C, not only by increasing the gross development values of each site by a minimum of 30% but by delivering a luxury and highly bespoke product to a hungry marketplace crying out for quality homes.
Phil has exceeded all expectations by bringing two viable business projects to G&C and we are delighted that G&C was able to introduce him to his third site in Chipping Norton. We clearly recognise Phil’s strengths and G&C are highly committed to funding speculative and outline planning consents to enable Sharba Homes’ fast growth to continue."
All three upmarket housing schemes are located within the Cotswolds and were initially purchased with outline planning consent. The first scheme is located in Bloxham, Oxfordshire, at the gateway to the Cotswolds where two substantial and exclusive family homes are due to complete next month and have sold for a combined figure of over £1.6million.
Their second scheme is within the famously picturesque village of Bourton on the Water, a development of 9 four and five bedroom homes, with a gross development value of over £4.5 million. Construction will be completed by the end of the year with a prestigious show home now open.
Their third scheme located in Chipping Norton, introduced by G&C, consists of 14 two to five bedroom homes commanding a gross development value of £4.8million and is due to complete in mid 2007
G&C Finance, who established their head office in Solihull almost two years ago, has secured £300m of new residential business in the last 18 months and is forecast to enable a further £300 million of new development to get off the ground within its next year of trading. This is likely to consist of over 60 individual residential and mixed use schemes across the UK.
By making an industry breakthrough to fully finance small to medium size developments with or without planning permission, G&C Finance provides impartial consultancy advice to enable developers to access 100 per cent financing.
Phil James added: "I am very proud of the profile and reputation within the industry that I was able to develop and nurture whilst working for a national housebuilder, particularly while I was responsible for Special Projects involving award-winning bespoke and sensitive developments
"G&C recognised that these skills combined with the financial acumen of my wife, who has held a number of senior positions in accountancy firms across the UK, provides a perfect blend to drive Sharba Homes forward.
"In G&C we have found a financier that talks our language and understands our business needs. Property development is very much a people business and we have found in G&C a pragmatic team of key personnel with whom we enjoy a good professional working relationship. This relationship has encouraged Sharba Homes to further expand their property development portfolio with a number of subject to planning opportunities due to come to fruition within the next twelve months."
G&C Finance was established to help ambitious quality developers get the break they need to acquire suitable sites.While banks will usually only offer up to 70 per cent of the required funds to finance a new development that is speculative in its nature - as almost all residential schemes are - G&C Finance are the only company of its kind to have flexible lending solutions on sites with and without full planning permission.
G&C Finance are 100% development funding & finance experts.