Case study 1: Southern England: Provision of site, senior debt, planning consultancy and recommendation of QS to create £6M GDV scheme.

Articulate Capital was issued with a site by one of our stable of professionals. We placed the site with one of our established borrower clients local to the subject site. Articulate Capital plugged our borrower into a national firm of top planning consultants who obtained the enhanced planning rights and introduced a suitable architect for this office to residential conversion. Articulate Capital provided the bridging loan to support the acquisition of the site on a first legal charge that went in at the same time as our borrower’s own capital which has enabled the purchase of the site. It is worth noting that once the enhanced planning rights were achieved Articulate Capital enabled the release of a further advance covenanted against the increased residual value. Our borrower is now in the process of perfecting the quote from the main contractor and once this is done Articulate Capital will structure funds to redeem the bridge and build out the scheme.  

Case study 2: South East England – Provision of funds to acquire 10 flats on unbroken freehold to allow time for a planning consent to be achieved for a sizeable residential scheme.  

A site was purchased by our borrower for £2M of which £1.5M was hard cash and £500k was a loanback from the vendor. We provided a facility a £1.5M gross against the £2M purchase consideration. The acquired asset is income producing and so we structured the interest to be part serviced, part retained, to maximise the day 1 provision. It is notable that there was input from Articulate Capital to get this one over the line in respect to structuring the agreements with the vendor, the investors and the senior lender. Our purchaser is now working through to obtain the planning permission for a sizeable residential scheme.  

Case study 3: South East England – Provision of mortgage to acquire top floor apartment, followed by provision of a refurbishment facility to redeem the mortgage, acquire the loft space above and fund construction works to create a £3M penthouse duplex.

We supported the acquisition of a top floor mansion flat with term finance. Once owned our borrower obtained planning and licence to alter Articulate Capital then mobilised a refurbishment facility to redeem the mortgage acquire the loft space above the apartment and provision funds for the construction works. Articulate Capital folded in a national blue chip property firm who we have a relationship with going back well over a decade to provide agents appraisal to assist in undergirding the red book valuation. We also provided the borrower with one of our stable of Quantity Surveyors to work with our borrower and the lender’s Monitoring Surveyor to enable our borrower’s wish to do this project as a self-procured refurbishment, which our lender has allowed. Once the planning and the licence to alter were in our lender provisioned funds to fully redeem the mortgage, acquire the loft space above and carry out the works to create the pent house duplex. Our borrower now owns the flat and the loft space above and is building out the scheme.   

Case study 4: Southern England. Provision of development finance to redeem bridging loan and build out £1.7M GDV two house scheme.

Articulate Capital worked with a family office lending partner of ours to provision development finance to redeem the acquisition bridge and build out the scheme. This lender carries out the valuation, initial monitoring report and paymaster role all in house and uses in house owned funds which is excellent when it comes to making sure there is no unnecessary bureaucracy in relation to getting the initial advance out and getting construction drawdowns out. This set up really is great for the small scale property developer, particularly on ground up schemes.  

Case study 5: North of England – stepping in to provision development finance to PC a stopped build to create a 105 apartment £17M GDV scheme, including provision of development finance for the airspace development above the existing building envelope.

At the point the client was introduced to Articulate Capital the scheme had run out of funds and the site was stopped. The site was sat on a bridge. Articulate Capital stepped in to save the day. We worked extensively with our borrower to put the paperwork into good order and then provided funds with our lender partner to redeem the bridge and build out the scheme within the existing building envelope. We then provisioned further funds to build out the airspace development above.