Investment manager Downing LLP is pleased to announce the completion of a string of development and bridging loans totalling almost £18 million for developments across the UK during August and September.
The recent loan completions reflect Downing’s continued funding support for a diverse range of developers and property types. On the development side these include: a £2.2 million property loan to a new developer client for two 4000 sq. ft properties located in Buckinghamshire; a £4.6 million loan to a new developer client for 10 units in Hindhead; a £3 million loan to an existing client to develop the second phase of a 95 unit scheme in the south-west and £1.5 million development funding to another new client for the construction of apartments in Bournemouth.
On the bridging side, Downing recently completed an exit bridging loan totalling £4.3 million for an existing developer client, secured against a recently completed 11 unit development of new homes located in the Solihull area, along with a separate £1.9 million exit bridge for an existing client secured against an affordable housing development in Kingston upon Thames.