Blackfinch Property has provided a development loan of over £620k to experienced developer Provost Developments, to finance the refurbishment of a Victorian semi-detached property in Redland, Bristol. The project will see three existing flats brought up to modern standards through light refurbishment - giving the building a fresh lease of life.
With the developer’s strong track record and the straightforward nature of the work, flexibility was key. The team explored a range of funding structures to find the right fit – tailoring the loan to meet the needs of both the project and the borrower.
Blackfinch Property will be taking a hands-on role throughout the duration of the loan. As part of the team’s commitment to rigorous due diligence, they’ll be reviewing all structural engineer and building control reports, tracking spend against the agreed budget and making monthly site visits to assess progress.
It’s an approach that shows how the team can adapt to support success – helping deliver the right outcome for each project and each client.
Philip Dart, Senior Investment Manager at Blackfinch Property, said: “This is a highly experienced and well-regarded developer in the Bristol area. We were pleased to support him with a tailored loan structure that reflected both the simplicity of the project and his strong track record. We look forward to supporting future schemes.”
While the nature of the refurbishment offers limited scope for wider environmental and energy efficient interventions, old gas boilers are being replaced with high efficiency condensing models, significantly reducing energy consumption and environmental impact. Garden areas will also be improved to support local biodiversity and help protect natural habitats.
With front and rear gardens, off-street parking, and a sought-after location in a well-established suburb, the property combines period charm with practical features. The area benefits from strong local amenities and demand for residential property, supporting confidence in a smooth exit strategy. This will likely be via splitting the title into three long leaseholds and selling individually.
Blackfinch Property is a fully-funded provider of innovative short-term bridging and development financing solutions. For more information, contact us.