Zenzic Development Finance has recently funded a residential development in Stalmine, Lancashire. The scheme consisted of 41 new detached and semi-detached homes and was funded via a c.£8 million dual-tranche loan incorporating stretch senior and mezzanine facilities at 78% LTGDV.
James Thomlinson, the broker on this transaction said “This was the second loan provided by Zenzic to our client within 12 months. The pleasure of dealing with Chris, Simon and Eddie to execute the first loan, as well as the outstanding support received since, were key factors in choosing to work with the team again on this deal. The development loan to fund the Stalmine project is flexible and competitive, and a genuine effort has been made to build a relationship with the borrower. I would not hesitate to work with Zenzic Development Finance again – especially with its growing loan size capability”.
Huge thanks go to William Ward (Savills); Noah Evans (Naismiths); Gary Richardson (Freeths).