PMJ Capital has provided a facility of £1.1m to fully fund the build cost for a development of new homes by experienced North West developer Markbuild.
Located in St Helens, Merseyside, the development comprises of eight three-bedroom homes. The funding package has a GDV of £1.96M, 55% Loan to GDV and 72% Loan to Cost.
PMJ director Lee Barton commented: “This is the second scheme we have funded for, Markbuild, both of which were introduced to us via john McNamara at Focus Commercial.”
He added: “As an independent lender, our funding packages provide support for SME developers like Markbuild, enabling them to build the much-needed homes that the UK so desperately requires.”
Mark Cooper of Markbuild said: “The site is located within an already-established residential area, with excellent transport links, close to St Helens Town Centre and Junction 7 of the M62.
“The team at PMJ understand, with complete clarity, our approach and what we are trying to achieve. It’s fantastic to have such a supportive funding partner.”
Work has already begun on site.