“We’re pleased to be backing an experienced SME developer through the refinance of a part-complete site and into the final stages of construction, providing the flexibility needed.”
– Ciaran McGivern – Assetz Capital.
Assetz Capital has completed a £2.73m development finance facility to support the refinance and completion of Dalmahoy Farm Villas, a part-completed residential scheme in Midlothian.
Located approximately 12 miles south west of Edinburgh city centre, the gated development comprises a mix of four and five-bedroom premium detached homes in a semi-rural setting with established road and rail connections into the city. All homes feature EV charging and solar panels and have achieved an EPC A rating.
A flexible structure for a part-complete site
With four of the eight planned homes already delivered, Assetz Capital worked with the developer to structure a facility that addressed both the refinance requirement and the cost of completing the remaining units. The result was an 18-month facility at 63.34% LTV, incorporating a circa £1.5m day-one refinance against the existing site position alongside circa £950,000 of development finance to complete a further three units.
“This facility reflects Assetz Capital’s focus on supporting well-designed residential schemes and providing practical funding solutions that keep delivery moving,” said Ciaran McGivern, regional director north at Assetz Capital.
“We’re pleased to be backing an experienced SME developer through the refinance of a part-complete site and into the final stages of construction, providing the flexibility needed.”
“This is all part of our commitment to supporting SME housebuilders right across the UK, ensuring high-quality homes come to market and supporting the development of local communities.”
Supporting SME housebuilders
The transaction reflects a broader focus at Assetz Capital on providing development finance to smaller housebuilders navigating the practical challenges of part-complete schemes, where refinancing an existing banking facility while funding remaining construction requires a lender willing to work through the specifics of each site position.
For the Dalmahoy Farm Villas developer, that flexibility was the difference between stalling and completing a high-quality scheme serving the Edinburgh commuter belt.
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