Salisbury Road, Worcester Park, Surrey
New development, with planning permission
Valuation for loan security
Project / development monitoring
Development & Planning Permission Case Study - Heritable Development Finance
£6.6
million
residential development uses
17
luxury one and two bedroomed flats
Challenge
Vail Williams was appointed by Heritable Development Finance, the lender funding a new luxury residential development at Worcester Park in Surrey.
We were appointed to provide a valuation for loan security purposes and, following the completion of the loan, oversaw the development delivered by Portchester Estates, on behalf of the lender.
How we helped
- Undertook land valuation and a valuation of completed dwellings, including 17 one and two bedroom luxury flats built on Salisbury Road.
- Completed detailed valuation report following a survey of the site
- Carried out regular site inspections throughout the construction programme
- Delivered regular reports on progress back to the lender, detailing progress with the construction programme and value of works completed, highlighting potential risks.
We are grateful to Vail Williams for their timely response to our needs, which ensured a smooth lending process for us and the developer. Their quick response allowed us to lend as soon as possible against the scheme, enabling development to progress post-haste.
Tom Barratt, Director, Heritable Development Finance.
Results
- Valuation and project monitoring reports gave the lender assurance that the project was being developed in line with expectations, avoiding unwanted surprises
- The development was delivered on budget, with a number of units sold off plan
- The lender received the expected return on their investment.
Get in touch
If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.
