Site Acquisition for Development
Background
Pinemont was approached by a builder/developer who had placed a deposit on a site which formed the unbuilt portion of a housing estate with a capacity for 40 units. The site had lapsed planning permission but was well situated. The builder was in an advanced discussions with a housing agency to sell the entire completed development but the housing agency would not deal with the developer until he had ownership. The builder was experiencing delays in securing debt finance from his regular bank.
Result
Pinemont financed €1,800,000 of the transaction being 70% of the valuation for 6 months allowing the borrower to make an agreement with the housing agency and therefore secure finance from his regular bank. Pinemont placed the finance in 10 working days.
Another successful outcome for the builder, saving his deposit of €260,000 and securing the opportunity to make a significant development profit.
Case Studies
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.
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Case Study
Working Capital Funding
A successful outcome for the manufacturer enabling him to honour the highly profitable contract and secure recurring business.
Read MoreCase Study
Debt Settlement
A successful outcome for the borrower with a debt write off of €620,000 and retaining the properties.
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Case Study
Construction Completion Notice
A successful outcome for the manufacturer, saving his deposit of €100,000 and securing the premises to make a long term increase in production.
Read MoreCommercial Bridging Loans – We Deliver
Pinemont Finance Limited was founded in 2015 by our CEO Niall McHugh and COO Enda Bannon. Since then, we have successfully provided funds for numerous transactions over the years. Pinemont is a financial solutions provider and provides short term secured funding to businesses in Ireland and the UK at very short notice.
Brokers
Borrowers