Collaborating for the third time, LDS and senior lender West One have facilitated the conversion of a derelict barn into five new homes with a combined GDV of £3,320.000.
Introduced by Arc & Co, the LDS Sales Guarantee, which included a 10% interest-free cash release, was contracted four weeks from initial enquiry, enabling a quick start on site with equity retained to support wider business growth.
The developer
The developer, Shakeel Adli, founder and CEO of Zunikh, stated: “We were particularly impressed with LDS’s unique product offering, responsiveness and commerciality. We look forward to growing our relationship with them and working on many other transactions”.
The Broker
Despite pressure from the vendor and the structural complexities of this transaction, Oliver Holden, senior broker at Arc & Co, said that “both LDS and West One were excellent to deal with, going above and beyond.”
The Lender
Dan Alfano, senior portfolio manager at West One stated: “This was an extremely time sensitive transaction which wouldn’t have been possible without the expert assistance of LDS Sales Guarantee and Arc & Co. We are incredibly pleased to continue building a strong relationship with LDS and look forward to completing more deals in the future.”
LDS
Chris Fortune, LDS Relationship Director, is pleased to see the Sales Guarantee-senior debt combination gaining traction across the market, especially with brokers like Arc & Co doing their part to enable a quick completion.
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