SGL7 Ltd has obtained a £2.9m development exit loan from Shawbrook to back the sale of 15 high-spec holiday homes in Anglesey, bolstering its ongoing project in the area.
SGL7 Ltd has secured a £2.9m development exit loan from Shawbrook to support the marketing and sale of 15 holiday homes in Anglesey. This financing marks a critical phase for the project, which includes high-spec finishes and sustainability features, as well as a planning restriction that limits the homes to holiday accommodation.
Facing an impending loan expiry with their original finance provider, SGL7 turned to Shawbrook, a longstanding financial partner, for a 12-month loan to ensure smooth progress during the sales phase. Relationship director Greg Pescott from Shawbrook emphasised the value of supporting projects through their full lifecycle, noting: “This outstanding Welsh holiday home development in Anglesey required support from a lender that could support past practical completion – and it’s brilliant that we were able to assist with our development exit solution. I’m looking forward to future projects with SGL7 and building on this success with other Welsh developers and their projects.”
Andrew Cartwright from SGL7 said: “Working with Shawbrook has been a seamless experience. They were able to step in when our existing funder would not extend the term, and their continued support and expertise has been invaluable to this development project.”
This project forms part of a larger scheme, with the next phase including 16 newly built, three-bedroom homes.
