Re-development of Bungalow in Norfolk

Our existing client, an experienced builder and developer of 30 years, purchased a bungalow in Norfolk with Bridging finance and self funded his own development costs. 

The property was internally reconfigured with the addition of a 70 square meter extension which enabled the property that was in poor condition to become a suitable dwelling for resale.

The transformation of the re-developed bungalow and new extension, meant an uplift in value. Whilst the client's bridge was about to expire, we re-bridged the current facility, and capital raised extra funds to allow the borrower to create a 'war chest' to fund the deposit and fees of his next project that Development Money got involved in.

The 6 month re-bridge with NO EXIT fees allowed him a suitable period of time to sell the property.  The client successfully exited the facility at month 3!

Re-development included:

- 70sqm extension, doubling the footprint of the existing property
- The existing property was stripped to bare brick and re-plastered
- A new kitchen, new bathrooms, and en-suite were installed
- Quality finishes such as oak floorings and porcelain tiling were fitted
- A new central heating and boiler system was installed
- New re-wiring
- Porcelain tiling was fitted as a quality finish to the property


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