Magnet Capital fund transformation of unused orchard into a delightful new three bedroom detached house.
Magnet Capital were approached by a Suffolk developer, Roger Greenacre, who owned an old orchard that offered an ideal opportunity to build a property. Having been turned down for funding by banks and building societies, Magnet Capital were delighted to assist after seeing the exciting plans and meeting the build team.
The developer’s vision certainly came true; with what turned out to be a stunning three bedroom bungalow; complete with retained beams and bespoke fireplaces, all set in beautiful landscaped gardens.
Sam Howard, CEO of Magnet Capital, “As a specialist development finance lender, we could quickly see what Roger and his team were trying to achieve and therefore had no hesitation in working with him on this stunning development. At Magnet Capital we build personal relationships with all our clients and I personally went out to the site twice to see progress. So when Roger approached us for further funds to deal with the increased building costs he faced, we were able to quickly assist.
Roger Greenacre said “Throughout the entire process Magnet Capital has provided an excellent service and I have to say great support in what has been a difficult two years in the property building business, with material costs literally going through the roof – apologies for the pun! Following
assessments by their surveyor, stage payments were made immediately and I was very grateful for an increase in the loan facility towards the end of the project ensuring we could meet escalating costs. Magnet Capital kept in regular contact with me and I felt that the trust we built working together was key in enabling the successful outcome of the project.”