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LAND WITH PLANNING, DEVON

Development Bridge to fund Infrastructure Works

LAND WITH PLANNING, DEVON

Development Bridge to fund Infrastructure Works

GROSS LOANLOAN TYPETERMLTGDVLOCATIONMONTHLY RATE
c. £2.413mDevelopment Bridge12 months50.81%Devon1%

OVERVIEW

The 22-acre greenfield site is located in a prominent location off a major transport hub, and the borrowers had secured various planning consents for industrial development.
Funding was provided to carry out infrastructure works to the site including the supply and installation of an access road to the plots, provision of drainage and services, to facilitate the development of industrial units. Upon completion of the works, the borrowers’ intended exit was to dispose of plots on an individual basis.

Underwrite: Given the complexity of the proposition, alongside our inhouse team, Novellus instructed specialist valuers, quantity surveyors and planning consultants to appraise the status and feasibility of the scheme. Our appointed QS then monitored the works throughout the loan term.

Terms and Timelines: The loan was provided at a rate of 1% per calendar month, for 12 months and was completed within the required timeframe allowing works to commence on the site as scheduled.

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Borrowing from Novellus Limited involves entering into an unregulated loan secured against property. Think carefully before securing debt against your property. Your property may be at risk if you do not keep up with your loan repayments.
 
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T Bromley, 15-17 London Road, Bromley, BR1 1DE
0203 397 4871
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©2025 Novellus is a trading style of Novellus Limited registered in England and Wales.
Company No. 10790634. Registered address: T Bromley, 15-17 London Road, Bromley, BR1 1DE

THINK CAREFULLY BEFORE SECURING DEBT  AGAINST YOUR PROPERTY. YOUR PROPERTY MAY BE AT RISK IF YOU DO. NOT KEEP UP WITH YOUR LOAN REPAYMENTS.