Former St John Ambulance Building in Nottingham converted and extended into two flats and a new build of 3 x 3 bed houses
Magnet Capital provided a facility amount of £481,000 to convert, extend and construct the regeneration of the former St Johns Ambulance Building in Nottingham into two new flats and allowed for a new build of 3 x 3 bed terraced houses. We were also able to give multiple increases throughout the loan so that the builder could tackle the current climate of rising build costs. We also allowed the borrower to retain funds at the point of the first sales in order to sustain his build cash flow.
The client AB noted, “The Magnet team have been fantastic throughout our development, very good on rates and it was good to have a direct point of contact which we meet through teams, personally I thought this was a great tough putting a face to a name”.
CEO Ashley Ilsen also commented: “It is great to see such positive feedback from our clients, we were able to adapt quickly to offer everything they needed in order to complete this project and its clear how valuable that is through such great feedback like this”