Arc & Co. has recently completed a development loan with Quantum Development Finance for a scheme in Cambridgeshire.
Tom Berry (pictured), director at Arc & Co., secured a loan of £4.76m for the development of eight houses – including several barn conversions, one of which is grade-listed property.
The funds from Quantum assisted with the land purchase and covering all costs associated with the build.
The site was originally owned by a local farmer, who was looking to sell the site with planning to the client, a Cambridge-based developer.
All parties had to navigate a complex overage agreement, multiple plot titles, and a lease agreement.
Despite the complexities, the case was delivered at 65% loan-to-gross-development-value (LTGDV) by Quantum and Arc & Co.
The developer has started construction and will look to achieve practical completion by 2026.
Berry said: “The Quantum team understood the underlying legal complexities and took a commercial approach to progressing the finance.
“Quantum are a new introduction to our client, and we look forward to seeing the relationship flourish.”
Mike Jessop, lending director at Quantum Development Finance, added: “We were delighted to provide this funding package for an experienced SME developer with a strong regional presence.
“The due diligence process was not without its complexities; however, it serves as a great example of how a lender, client and introducer can all work together to find a solution that works for everyone.
“It was a pleasure to work with Tom and the Arc & Co. team on this transaction – they’re a commercial, relationship-led organisation just like QDF.
“We look forward to supporting the client on this development and upcoming projects.”
