PMJ has completed on a £660,000 development loan for North West development and construction firm, Lane End Group. The loan will fund the construction of a new drive thru pre let to Costa Coffee.
The new retail outlet will be located at the entrance to the Cheshire Business Park which is located on the edge of Northwich, a prime development for Cheshire West and Chester Council.
The funding package comprises of a development loan, over a 12-month term with the completed unit valued at £1.2m GDV.
Lee Barton, development director at PMJ Capital commented: “We have been working with Scott and the team at Lane End for some time and were delighted to be able to support them with this project”.
Scott Ashall, director at Lane End added: “Benefiting from a highly accessible location, the park is an ideal location for the new drive thru unit.
“The Costa development will complement the existing mix of occupiers in this location and provide new jobs for the area”.
Work started in December 2020 and is due for completion this month.
Scott added: “Lee’s approach was completely refreshing to other lenders we have worked with in the past.
“We’d like to thank PMJ for their support and assistance in enabling us to fund this project.”