Holmehill Lodge has lain derelict for many years.  Castlehill Capital were happy to be involved in resurrecting this once fine county manor.

The project focused on the Gamekeeper’s house on the outskirts of the grounds.  Planning was granted for a neat 3 bedroom house.  The initial Lodge belonged to the famous Glaswegian businessman James Templeton who owned one the most impressive factories in the UK at the time on Glasgow Green.

The property has been neglected and our client spied an excellent opportunity to convert some of the historic grounds into a family friendly home.

We also assisted on the same clients project down the road at Stirling where she was converting a former pub into student accommodation.

Always great to be involved in good Scottish property development projects.

 

 

Absolutely delighted to get funding for this residential project in Brixton completed to kick off 2021.

Castlehill Capital had been in discussions with client for over 6 months regarding this project and time was ticking until the intilal planning consent expired.

However, a monumental effort by the client and some of the lending staff over the festive period ensured that the funding was ready in time to break ground and crystallise the planning consent.

An irregular shaped plot required some inventive design to allow for 3 properties to be accommodated and consented by the local planning officer.  Yet again , it was another first time developer we assisted on this project.  Their clear command of the project and it’s requirements gave everybody comfort to proceed with the funding.

An initial £700k was provided to assist with the purchase and 1st phase of works. With a further £1m available as the project progresses.

We’ve noticed a recent increase in projects in Edinburgh over the last few months.  One of our favourites neighbourhoods is Stockbridge and Castlehill Capital were delighted to be involved in funding a residential project there.

The property had a mixed use classification which initially posed some issues but these were quickly dealt with before full consent was granted for conversion to an all residential classification.

This loan application involved another first time property developer and we were delighted to finally get the funding over the line.

Along with minor issues with the mixed use classification there was also the business case of a serviced accommodation to assess. Our client had put together a convincing proposal and we were happy to back his vision.

 

A tricky £1.5m development finance facility was completed with a regular client of Castlehill Capital.  This 10 residential unit scheme was their first ground up development – and it was this perceived lack of experience which posed the first hurdle.

At Castlehill Capital we work with all types of developers from 1st timers to experienced national house builders.  In this particular case, the lack of experience was mitigated by phasing the site so that the initial 5 units were completed and sold before continuing with phase 2.

The next problem to arise was that one of the pre commencement planning requirements hadn’t been satisfied despite work on the site having already commenced.  A ground contamination inspection had been undertaken but was unable to fully investigate the site due to an existing structure on the land.

The site was a former petrol station and some of the building still remained onsite and was used as a workshop by the developer to store equipment and provide facilities for the contractors.

We opened up dialogue with the council and were satisfied that the risk of contamination under the structure was minimal.  Maintaining and using the building instead of demolishing it was the preferred option for the developer as it saved costs and provided an area to store and cut the timber frames.

After this issue was resolved, the funds were drawn down quickly and the developer was able to refinance the existing 1st charge (which was on a much higher interest rate) and provide cashflow for the work to continue onsite.

We look forward to the first phase being completed at the end of the first quarter.

 

 

 

 

 

A well tenanted commercial property on a busy corner position within Bedford town centre was purchased with the help of Castlehill Capital.

A £900k bridging loan was provided to our client who wished to purchase the property with 3 tenants including the NHS.  The property had added appeal for our clients as it provided an opportunity to develop the airspace above the existing structure.

Our builder client was aware of similar planning permissions being granted for airspace developments in close proximity in the Bedford area.  Therefore, they moved quickly to agree a purchase price and arranged a quick bridging loan to complete the purchase.

A planning application for 8 flats over 2 floors will now be made to the local authority.

Once planning consent is granted Castlehill Capital will also provide the build facility to enable the client to complete the build.