PMJ Capital reaches £50 million milestone

13th December

We are delighted to announce that we have reached a significant milestone – delivering over £50 million in lending. The below press release was featured in Development Finance Today

Over the past six months alone the lender has seen enquiry levels increase by over 80% having looked at bridging and development deals worth in excess of £75 million across the North West and beyond.

Managing director David Rainford commented:

“2020 was extremely challenging for the industry, however we remained incredibly active working with our longstanding developers entrepreneurs and introducers across the region on some exciting projects.

“We also welcomed a number of new clients and funded schemes in new areas away from the North West including Yorkshire, Derby and the North East.

“December was one of the busiest months in our history, with deals still completing right up to Christmas eve which took us to the £54 million pound mark – a fantastic accomplishment for the team”.

PMJ Capital was launched in 2015 by leading accountancy and advisory practice Cowgills alongside P&MJ Wright Holdings.

2020 completions included providing Beluga Projects with a £180,000 funding package to cover planning and option costs for a 52-unit BTR apartment scheme in Sheffield; a £800,000 funding line to Arbor Living on the second phase of a retirement village in Lymm and more recently a £1.35 million loan for the third and final phase of Waypoint Development and Construction’s scheme in Casterton, Kirby Lonsdale.

Added David:

“We believe our success is down to our straightforward and honest approach.

“As independent lenders we are able to make flexible and informed decisions; I believe that this has really been valued by our clients over the past nine months. In fact, a number of our new relationships have been gained after deals with other lenders fell through.”