Construction Completion Notice

Background

Pinemont was approached by a manufacturing company in the building sector. The manufacturer wished to increase production capacity and had agreed to purchase the industrial unit next door which had come up for sale. Purchasing the next door unit allowed the manufacturer to increase capacity without moving administration offices and without shutting down current production facilities. To move the production line would close the business for weeks. Approval for the purchase finance had not been granted when the company received a completion notice. Without finance, the manufacturer would lose the deposit but more importantly lose the opportunity cost of the manufacturing facility next door and the associated savings and benefits.

Result

Pinemont advanced the balance of the purchase funds of approximately €900,000 plus associated costs. A successful outcome for the manufacturer, saving his deposit of €100,000 and securing the premises to make a long term increase in production.

Case Studies

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Case Study

Site Acquisition for Development

Another successful outcome for the builder, saving his deposit of €260,000 and securing the opportunity to make a significant development profit.

Case Study

Debt Settlement

A successful outcome for the borrower with a debt write off of €620,000 and retaining the properties.

Case Study

Working Capital Funding

A successful outcome for the manufacturer enabling him to honour the highly profitable contract and secure recurring business.

Case Study