Ground-Up Residential Development of Eight Detached Homes in Oxfordshire
£2,100,000 · 18 months · 0.95% pm. An experienced developer with a strong track record had obtained planning consent for eight detached family homes on a greenfield site in Oxfordshire.
The Client
Experienced developer
The Challenge
An experienced developer with a strong track record had obtained planning consent for eight detached family homes on a greenfield site in Oxfordshire. Their existing development lender had withdrawn from the market, leaving the project unfunded weeks before groundworks were due to start.
Our Solution
Doulton completed a full development facility of £2.1m covering land and build costs, drawing down in tranches against architect and QS certifications. The scheme was monitored monthly by an independent monitoring surveyor.
The Outcome
All eight properties completed on programme. Six sold off plan and two through estate agents within three months of practical completion. Facility redeemed in full at month seventeen. Key highlights: Replaced withdrawn lender with no programme delay; Tranche drawdown aligned to build programme; All units sold within three months of PC.