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Magnet Capital Completes New Development on Former Pub Car Park Site
Magnet Capital has successfully completed a fantastic new development for a new client in Berkshire, built on the site of a former pub car park.
The client was introduced to us by a broker in June 2020 and encountered several challenges throughout the course of the build, all of which the Magnet Capital team was pleased to help overcome.
As the development took place during the COVID-19 pandemic, a number of loan extensions were required. These were agreed quickly and efficiently over the phone, allowing the project to continue without unnecessary delays.
In addition, Magnet Capital released funding tranches when required based on photographic evidence of progress, rather than requiring the developer to incur the additional cost of extra surveyor inspections.
This flexible and responsive approach helped ensure the project remained on track despite the unique challenges presented during the pandemic.
