UTB helps Private Clients to find value through wealth diversification

BORROWER Private Client
LOAN £11.8 million
LOAN TYPE Development Finance
LOCATION Greater London
LTC 75%
• New Build | Mixed use
• 10 storeys including basement
• Principal Contractor
• JV between two Family Offices
• Former pub site next to transport hub
• Complexities around enabling infrastructure, site access and ground works

International Private Clients and Family Offices frequently look for opportunities to diversify their wealth in to UK Real Estate as part of their wider asset management & wealth preservation strategy. United Trust Bank is adept at assisting high net worth individuals once they have identified suitable investment projects.

The borrower, a joint venture between two wealthy families, was looking to fund the redevelopment of a former public house and adjoining land in a busy commercial centre benefitting from excellent transport links. The plans were for a 9 storey building containing 22 new build apartments including triplex penthouses together with ground and lower ground commercial spaces.

Enabling site access and ground works, which included excavation, involved complex negotiations with Network Rail to ensure a safe build with minimum disruption to commuters. The appointment of a professional team familiar with the site constraints together with a main contractor who had a strong track record of delivering similar projects in the area was key to unlocking the potential of the site.

With UTB assured that the development provided high quality homes in a sought-after area and that the build would be completed by a skilled contractor, the proposal was taken to the Bank’s Credit Committee with facility letter documentation issued on the same day.

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