Pluto Finance - Funding Property Development
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Pluto Finance Backs Home Counties Focused Developer in Hook

November 2016

Pluto Finance has completed a stretched senior development loan of £15m for an office to residential project in Hook, Hampshire. The Pluto development loan will enable a Home Counties focused developer to convert the building into 107 private apartments with an anticipated GDV of £22m.
With one bedroom apartments priced from £175,000 the development qualifies for the Government’s Help to Buy Scheme. To date there has been strong demand from both local owner occupiers and investors. Mario Ioannides, Lending Manager at Pluto Finance, said: “We are delighted to have supported this project when at the time other lenders had withdrawn from the office to residential sector”.
This is the second significant development loan which Pluto has completed in March and follows the funding of 227 apartments in Southend. Pluto is currently funding the development of over 2,000 homes across London and the South East.
Pluto Finance, the leading residential development lender, has been providing loans to the UK residential development sector since the credit crunch in the form of mezzanine and stretched senior funding. Over that time, the business has established a proven track record and has now completed transactions with a combined GDV of over £1bn.
Having been shortlisted as “Residential Financier of the Year 2016″ by Property Week for the third year running, Pluto Finance goes from strength to strength. It provides developers with a single loan of up to 90% of the cost of the development, enabling developers to kick start new projects and also to spread their equity across a greater number of schemes.

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Pluto Finance backs leading regional developer with stretched senior loan in Southend

September 2016

Pluto Finance has completed a stretched senior development loan for a £50m landmark residential project in Southend. The Pluto development loan will enable experienced regional developer, Randall Watts, to convert the building into 227 private and 52 shared ownership apartments. Beaumont Court and Richmond House are located at the heart of the wider Southend regeneration project which will include new retail and leisure space as well as a refurbished train station.

With one bedroom apartments starting from as little as £130,000 and just under a 1 hour commute to London, there has already been strong demand from local owner occupiers and investors alike. Justin Faiz, Partner of Pluto Finance, said: “We are delighted to have supported this landmark scheme which will deliver much needed residential accommodation in Southend and contribute towards the regeneration of the town centre.”

Mark Watts, Chief Executive of Randall Watts who are building the homes says, “We are proud to continue our role in providing much-needed housing in Southend”.

Pluto Finance, the leading residential development lender, has been providing loans to the UK residential development sector since the credit crunch in the form of mezzanine and stretched senior funding. Over that time, the business has established a proven track record and has now completed transactions with a combined GDV of over £1bn.

Having been shortlisted as “Residential Financier of the Year 2016″ by Property Week for the third year running, Pluto Finance goes from strength to strength. It provides developers with a single loan of up to 90% of the cost of the development, enabling developers to kick start new projects and also to spread their equity across a greater number of schemes

Hodson Photo

Pluto Finance provides £22m of development finance to leading Housebuilder

April 2016

Pluto Finance has recently completed its third loan to a leading South East developer to fund three new build projects. This latest facility is a £22 million stretched senior loan and will finance the development of a 65 unit apartment scheme in Bracknell and the final phase of a 103 unit apartment scheme in Camberley.

 

Justin Faiz, Partner at Pluto Finance, said: “We are delighted to have closed another loan for a repeat borrower. We focus on building strong long term relationships with our clients and have strong appetite to fund well located development projects throughout the Home Counties. This loan which is secured against both consented and unconsented sites demonstrates our ability to be flexible in our approach to structuring.”

 

Since July 2015 Pluto has provided £200m of new funding to developers which includes a £30m loan to Galliard Homes. Shortlisted as “Residential Financier of the Year 2015″ by Property Week, Pluto Finance goes from strength to strength, funding projects with a combined GDV of £1bn since 2011. It provides developers with a single loan of up to 90% of the cost of the development, enabling developers to kick start new projects and also to spread their equity across a greater number of schemes.

Trinity Sq Corner Shot

Pluto Finance backs Galliard with £30m stretched senior loan

November 2015

Pluto Finance has completed a £30m stretched senior development loan for existing client, Galliard Homes, to fund the development of Trinity Square, Hounslow into 228 apartments. Trinity Square is part of Galliard’s ‘Get on the Ladder’ Campaign to provide hundreds of new homes priced below £300,000 in order to help Londoners get a foot on the housing ladder.
Justin Faiz, Partner of Pluto Finance, said: “We are delighted to have supported a long-standing client with another development project which will deliver much needed residential accommodation for the area.” Pluto have also funded Galliard’s Riverdale House scheme in Lewisham which has been almost entirely pre-sold.
Stephen Conway, Chief Executive of Galliard Homes who are building the home says, “We are proud to continue our role in providing much-needed housing and contributing to the regeneration of London”.
Pluto Finance, the leading residential development lender, has been providing loans to the UK residential development sector since the credit crunch in the form of mezzanine and stretched senior funding. Over that time, the business has established a proven track record and has now completed transactions with a combined GDV of over £1bn.

Marden Homes

Pluto Finance provides development finance to leading Housebuilder

October 2015

Pluto Finance has provided a £29 million stretched senior facility to leading South East developer Marden Homes to assist with its land acquisition programme as it expands its delivery of quality new homes.

 

Marden Homes, established in 1989, has a track record for developing throughout Essex and the surrounding areas but is now expanding its reach to include desirable locations such as Wandsworth and Horley. The new facility is designed to increase their output and area of operation with new sites being developed at Hawkwell and Brentwood. The sites offer homes ranging from two to five bedrooms, some of which qualify for the Governments Help to Buy scheme which only requires a 5% deposit.

 

Rick Tappenden, Director of Marden Homes, said “We pride ourselves on the attention to detail found in each of our homes, and building a welcoming community for our buyers. The team at Pluto has been a tremendous support in enabling us to activate this phase of growth for the business, and have backed our plans all the way”.

 

Gavin Morrison, Relationship Manager at Pluto Finance, said: “Marden Homes has built a strong reputation for delivering quality new homes and we are delighted to be supporting them with their growth aspirations.”

 

Having been shortlisted as “Residential Financier of the Year 2015″ by Property Week, Pluto Finance goes from strength to strength, funding projects with a combined GDV of £1bn since 2011. It provides developers with a single loan of up to 90% of the cost of the development, enabling developers to kick start new projects and also to spread their equity across a greater number of schemes

 

Leven Wharf

Pluto Finance provides residential development finance for 96 unit scheme near Canning Town, E14

September 2015

Pluto Finance, the leading residential development lender, has completed a £22m stretched senior facility to assist with the acquisition and development of Leven Wharf, a former brownfield site near Canning Town, E14 .The development will provide 96 apartments and associated car parking spaces.

 

The loan, to Vision Homes Limited, a leading London developer, is in the form of stretched senior residential development finance, combining senior and mezzanine debt. It has been provided by Pluto Finance’s stretched senior loan platform to provide much-needed finance for housing developments across the UK.

 

Andy Blenkinsop, Partner at Pluto Finance, said: “This £22m stretched senior development facility is Pluto’s second loan for this borrower and we are delighted to be supporting experienced clients such as this across multiple projects.”

 

Having been shortlisted as “Residential Financier of the Year 2015″ by Property Week, Pluto Finance goes from strength to strength, funding projects with a combined GDV of £1bn since 2011. It provides developers with a single loan of up to 90% of the cost of the development, enabling developers to kick start new projects and also to spread their equity across a greater number of schemes.

Stoke Newington

Pluto Finance Backs Stoke Newington Resi with £14,515,000 stretched senior loan

September 2015

Pluto Finance has completed a £14.5m stretched senior development loan for an existing client to fund the acquisition and development of Wilmer Place, a former shoe factory in Stoke Newington into 33 apartments. The facility also funds the redevelopment of neighbouring 193 – 201 Stoke Newington High Street into new retail premises.
Justin Faiz, Partner of Pluto Finance, said: “We are delighted to have supported a long-standing client with another development project which will deliver much needed residential accommodation for the area and also improve the retail offering on Stoke Newington High Street.”
Pluto Finance, the leading residential development lender, has been providing loans to the UK residential development sector since the credit crunch in the form of mezzanine and stretched senior funding. Over that time, the business has established a proven track record and has now completed transactions with a combined GDV approaching £1bn.
Having been shortlisted as “Residential Financier of the Year 2015″ by Property Week alongside the likes of Barclays and RBS, Pluto Finance goes from strength to strength. It provides developers with a single loan of up to 90% of the cost of the development, enabling developers to kick start new projects and also to spread their equity across a greater number of schemes.

St Albans

Pluto Finance backs St Albans PDR Scheme, Ziggurat House with £31.5m stretched senior loan

September 2015

Pluto Finance has completed a £31.5m stretched senior development loan for a new client to fund the acquisition and development of the Ziggurat House building in St Albans into 125 apartments.

 

Justin Faiz, Partner of Pluto Finance, said: “We are delighted to be funding the conversion of this iconic building which will deliver much needed residential accommodation for the area.”

 

Pluto Finance, the leading residential development lender, has been providing loans to the UK residential development sector since the credit crunch in the form of mezzanine and stretched senior funding. Over that time, the business has established a proven track record and has now completed transactions with a combined GDV approaching £1bn.

 

Having been shortlisted as “Residential Financier of the Year 2015″ by Property Week alongside the likes of Barclays and RBS, Pluto Finance goes from strength to strength. It provides developers with a single loan of up to 90% of the cost of the development, enabling developers to kick start new projects and also to spread their equity across a greater number of schemes

Resi Awards

Pluto Finance has been shortlisted for “Residential Financier of the Year 2015”

May 2015

Pluto Finance has been shortlisted for “Residential Financier of the Year 2015” at property week’s RESI Awards. Commenting on the short-lisitng, partner Justin Faiz said “We are delighted to be short-listed for this prestigious award alongside giants of the industry RBS and Barclays. I’d like to thank all our clients who nominated us for this category”.

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Pluto Finance provides residential development finance for 26 unit scheme in Muswell Hill, N10

April 2015

Pluto Finance, the leading residential development lender, has completed a £10.2m stretched senior facility to assist with the redevelopment of Connaught House, a former Metropolitan Police accommodation block in Muswell Hill for a private client. The project is part refurbishment, part new build and will provide 26 apartments in total. The property is within close proximity to Highgate Wood and Highgate underground station.

The loan is in the form of stretched senior residential development finance, combining senior and mezzanine debt. It has been provided by Pluto Finance’s stretched senior loan platform to provide much-needed finance for housing developments across the UK.

Justin Faiz, Partner of Pluto Finance, said: “This £10m stretched senior development facility is Pluto’s second loan for this borrower and we are delighted to be supporting experienced clients such as this across multiple projects.”

Having been shortlisted as “Residential Financier of the Year 2015″ by Property Week, Pluto Finance goes from strength to strength, funding projects with a total GDV of over £450m in 2014. It provides developers with a single loan of up to 90% of the cost of the development, enabling developers to kick start new projects and also to spread their equity across a greater number of schemes.

Get in touch with us

Speak to one of our experienced team to find out how Pluto Finance can help you.

Your team

Andy Blenkinsop

Andy Blenkinsop

Partner

020 7442 2103

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Iori Antcliff

Partner

020 7442 2112

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Rupert Burrows

Rupert Burrows

Construction Director

020 7442 2116

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Mario Ioannides

Mario Ioannides

Lending Manager

0207 442 2105

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Steffan Goold

Steffan Goold

Lending Manager

020 7442 2113

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Recent transactions

£15,000,000

Stretched Senior loan | 107 Apartments | Hook, Hampshire