“Not only do LDS provide an exit strategy on day one, which acts as a ‘comfort blanket’ for us as the developer and the lender, the deposit LDS release allows us to continue to develop multiple sites at one time”
About the developer
Starting in 2011, NRP Projects Ltd, has matured into a successful property development business completing new build sites across the North West region and expanding to new areas in the South East.
The business now concentrates on the delivery of high-quality, smaller volume, house building projects using cutting-edge technology, including the latest framing and installation techniques. The company’s first four developments were completed under the company name NRP Limited. Since then they have formed a new SPV for each development. NRP Twemlow Limited are undertaking this current development. NRP Limited are the main contractor for all the developments.
NRP have a good track record on delivering projects on time and within budget, producing c20% profits on each scheme.
The site was originally an existing house with paddocks which has been demolished. There is full planning permission for 10 new build homes, 7 of which are to be guaranteed by LDS, the remaining 3 homes are allocated to affordable housing. The 7 plots ( numbers 4,5,6,7,8,9 and 10) guaranteed by LDS are a mix of 3 and 4 bed executive detached houses and will be situated at the northern part of the site with the affordable housing, three mews houses, situated at the south western part. The development will be formed in a cul-de-sac arrangement.
Each plot will be of timber frame construction with beam and block floor slags at ground floor and cavity brick and rendered elevations. The 7 four bedroomed houses will incorporate bi-folding doors onto landscaped gardens, with detached double garages.
Twemlow Green is a rural village in Cheshire, with Goostrey Train Station a short drive away. Holmes Chapel Station and various Amenities are also a 5-minute drive away.
How we helped
Our LDS Sales Guarantee and deposit released much needed funds to the developer and provided comfort to the lender. This allowed the developer to continue work on multiple sites as their cashflow was not tied up on one development.
Key reason for using an LDS Sales Guarantee – Nick “Not only do LDS provide an exit strategy on day one, which acts as a ‘comfort blanket’ for us as the developer and the lender, the deposit LDS release allows us to continue to develop multiple sites at one time. The deposit release enables us to obtain additional sites when our equity may be tied up on other developments.”
The scheme in Twemlow is a luxurious project of beautiful houses and given the size of the scheme, it made sense to bring in a business partner like LDS who can assist in providing equity upfront and giving comfort of a guaranteed exit, which is a strong benefit to any lender, the service by Mark Roberts/LDS was exemplary and I look forward to working with NRP and LDS in the future.
As a developer we have built a team of professionals around us over the last 10 years. This enables us to have confidence in the people we work with on a daily basis. LDS are part of that team and we have found working with them to be very streamlined and efficient. We look forward to a long and healthy working relationship with LDS.
NRP are an experienced developer with several sites under construction at any one time. The release of our deposit allowed them to move onto this scheme quicker than they would have previously due to equity constraints. I look forward to working on this and several other sites in the future with Nick and David.
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