Jumbo Bridging were approached by a client that needed funding to complete a purchase and development of a 10th Country Estate located east of London. The property was used as a hotel/wedding venue and the client had plans to develop the surrounding land to increase the capacity.
The initial bridge of £2.1m to purchase the property was not a problem but the client wanted a funding partner who would see the deal all the way through to conclusion. This involved waiting for the relevant planning consents to be approved during the term of the bridge and then converting to a £3m development finance facility for the duration of the build.
Jumbo Bridging were able to provide the client with a full funding package that gave them security to undertake the complex planning application require for a property of that stature. Planning has now been granted and we are in the first phase of the development.