Zenzic Development Finance is pleased to announce the completion of a £2m Stretch Senior Development Loan to support the delivery of three new family homes in St Albans, Hertfordshire, for a valued repeat client.
The funding will enable the demolition of an existing property and the construction of three modern, 3-bedroom family homes, all within walking distance of St Albans City Station. Delivered through a stretch senior acquisition and development facility at 70% LTGDV, reflecting both the strength of the location and the quality of the scheme.
This transaction showcases Zenzic’s ability to design tailored funding solutions for urban infill projects in prime commuter areas – combining competitive leverage with prudent risk management.
We are proud to support experienced sponsors delivering much-needed housing in constrained markets while continuing to build long-term partnerships with developers in strong regional locations. Construction is currently progressing ahead of schedule, further highlighting the calibre of developers we work with.
Special thanks to Strutt & Parker / BNP Paribas Real Estate, Joe Colling (Naismiths), Harry Peel (Marriott Harrison), and all advisers for their support on this project.