£12m GDV New Build - 14 Units, North London
£7.8m senior debt · 62% LTGDV · 17-month build, full sales month 22. A developer with two prior schemes funded a 14-unit new-build in Haringey with a £12m GDV.
The Client
Experienced developer (3rd scheme)
The Challenge
A developer with two prior completed schemes sought funding for a 14-unit new-build in Haringey with a £12m GDV. The funding requirement of £7.8m senior debt at 62% LTGDV needed a phased drawdown schedule matching the construction programme.
Our Solution
Doulton structured a £7.8m senior debt facility at 62% LTGDV with a phased drawdown schedule. Monthly drawdowns were sized against the quantity surveyor's monthly valuation and tied to defined construction milestones to maintain cash flow alignment.
The Outcome
Practical completion was achieved in month 17. Full sales completion of all 14 units by month 22. Development exit bridging was used in months 17-22 to reduce interest costs during the sales period. Key highlights: 62% LTGDV - sharp pricing for experienced developer; Phased drawdowns aligned to QS valuation cycle; Development exit bridge saved interest in sales period.