Titlestone Property Finance has concluded a deal with Hope House (Bath) Limited, a joint venture between Acorn Property Group and Galliard Homes, for £35.4million, marking its 30th loan in the South West in recent years.
Titlestone has become a leading provider of stretched senior debt in the region, drawing down on facilities of over £235 million which supported the delivery of over 1,000 residential units.
Titlestone offers funding to experienced property developers across a wide range of projects, including mixed used schemes and student development. With facilities of up to 70% GDV, it provides a higher level of project cost than the traditional senior debt providers, enabling developers to spread their equity across a number of projects. This combined with a best in class service and a highly experienced team, has seen Titlestone drawdown on over £2bn of facilities since 2012, with a lending range from £1.5m to £25m.
Recent projects include:
- Bath - Hope House - 58 apartments and houses in a prime location under construction:
- Bristol - A 60 apartment conversion in Brunel House, which is on site;
- Bristol - 40 converted flats in Portland Square - built and sold;
- Bath - Nine converted flats in Stall Street - built and sold.
Titlestone Relationship Director Nigel Jackson commented: “80% of our business comes from direct approaches and client repeat business. We have established a strong client base in areas such as Bath, Bristol & Exeter and we are keen to expand this presence further across the South West. I would encourage experienced developers to compare our terms against traditional senior debt lenders when considering new projects”.