- 12 months
We were approached to fund the development of 8 penthouse apartments. The borrower was known to us and had a track record of converting office accommodation to residential, however, this new proposal meant building purpose built pods on 3 rooftops. Although it was an exciting project, the non-standard construction and materials made it a risky project for most lenders.
Whilst the borrower was a vastly experienced developer with many successful conversions and refurbishments in his portfolio, this project was taking his development team out of their comfort zone. We could see that additional assistance was required so we introduced our in-house quantity surveyor to liaise with the borrower’s project team and manage retention releases.
The development completed on budget and the penthouses were sold.
“We were delighted when Mint came onsite to understand the project and learn about our plans and intentions. They were great to work with and I would have no hesitation in recommending them to colleagues. Their knowledge and work ethic was exceptional.”