"Speed and flexibility were key here, especially with some works still outstanding. Despite that, we moved fast and met the client’s deadline, completing in just over two weeks from engaging solicitors and saving them extra fees in the process"
- Alex Mills - Shawbrook
Shawbrook has announced that it has provided a £6.8 million development exit loan to support a London-based developer in completing a high-end residential project in Wimbledon.
The scheme features six contemporary four- and five-bedroom homes. After acquiring the site in 2022, the developer needed funding to finish the build, secure a better interest rate, and allow time to sell the properties without pressure.
Working alongside long-standing broker partner Propcap, Shawbrook structured a facility that gave the developer the breathing room they needed. Shawbrook’s team worked closely with the broker and developer to keep everything on track, navigating last-minute delays that meant the loan had to be finalised before the final building works were complete. Confident in the developer’s experience and their strong relationship with Propcap, Shawbrook was able to move quickly to get the deal over the line.
The funding was delivered efficiently, giving the developer the flexibility to bring the homes to market under the right conditions.
“This is exactly what our Development Exit product is designed for—helping experienced developers cut borrowing costs and giving them extra time to sell without pressure," explained Development Finance Relationship Director Alex Mills, "Speed and flexibility were key here, especially with some works still outstanding. Despite that, we moved fast and met the client’s deadline, completing in just over two weeks from engaging solicitors and saving them extra fees in the process.”
Nick Ellis-Calcott from brokerage Propcap added, “A long-standing relationship connected us to this developer and it quickly became clear how we could support by refinancing the project onto a Development Exit product. This would give them the necessary runway to financially maximise their exit with the high-quality nature of the development immediately visible, along with the vast experience of the developer.
"Shawbrook’s product ticked all the boxes in terms of timescales, service and price, and it was a pleasure to work with both parties to land an outcome that met our clients’ needs and expectations.”
Developer client, Sunny Patel said, “Both Propcap and Shawbrook were excellent in providing a clear and transparent service that met our financing requirements, as well as getting to understand us as a developer and the project, listening to our needs, and working with us throughout to ensure a smooth transaction to completion.”
