Arc & Co. have partnered with London Belgravia Brokers to form an integrated advisory for independent advice on real estate finance and build warranties.
Combined, Arc & Co. and London Belgravia Brokers provide advice on over £2bn of development costs per year. This partnership will enable both firm’s client base to benefit from specialist advice needed to support their business in the best possible way.
The first deal was completed with West One Loans. The loan of £2.3m was for a development of 9 units in Wood Green.
Deal Specifics
Key stats:
• Gross loan - £2,295,000
• Interest - 7% + base
• Term – 24 months
Specialist advice was needed as the client has no UK assets, affecting the availability of a personal guarantee which would be enforceable in the event of a default. West One specialist underwriting meant that they could assess the strength within the case based on quality of the asset and the delivery team involved.
Andrew Robinson says “This is the first completion from our new partnership and demonstrates the clear specialist advice needed within the ever demanding development finance sector. This completion was a win-win for both firms and the client as without the funding levels approved, the client would not have been able to purchase the site.”
Giles Fallan says “The base of London Belgravia’s business model is providing honest and dependable advice to our clients and this is mirrored in the foundation of our partnership with Arc & Co. This completion is the epitome of this and clearly demonstrates the real value clients can see, from the bringing together of two specialists in their field can bring.”