Complex Multi-Site Development Funding
Structuring a staged development facility across multiple titles and borrower entities
The challenge
The client is the founder and clinical director of a well-established dental group operating multiple practices across Lincolnshire, serving over 14,000 patients through a combination of NHS and private care. Alongside a successful trading business, the client had built a substantial personal and commercial property portfolio and was looking to progress a large-scale town centre redevelopment.
The scheme involved two adjoining sites in Boston town centre, acquired over time through separate auction purchases and held across two different limited companies, each wholly owned by the client. While the buildings had historically functioned as a single unit, they sat across multiple land registry titles with distinct planning histories, access arrangements and development requirements.
Full planning permission had been secured across both sites following an extended process involving conservation area considerations, flood zone constraints and phased revisions to layout and use. The proposed development comprised a substantial number of one-bed apartments alongside retained and enhanced commercial space, with the client intending to hold the completed scheme as a long-term investment.
The funding requirement was complex. The facility needed to support staged development across interlinked assets, accommodate lending to more than one borrower entity, and align drawdowns with the practical delivery of works rather than rigid monitoring structures. Conventional development finance routes were not suitable given the ownership structure, title arrangements and delivery profile of the scheme.
The approach
Expert Finance began by reviewing the scheme holistically rather than treating the sites as isolated transactions. This included a detailed assessment of the client’s background, trading strength, asset base and delivery experience, alongside a forensic review of planning permissions, title structures and proposed build sequencing.
Rather than forcing the project into a standard development finance model, the funding strategy was designed around how the scheme would actually be delivered on site. Key considerations included how the works would be phased across the different buildings, how cashflow would move through the project, and how the exit would operate once the development was complete.
Given the complexity, Expert Finance identified a specialist development lender with the experience and flexibility to support the structure without imposing unnecessary constraints. This included the ability to lend across multiple companies, accommodate multiple titles within a single facility, and progress the development without traditional QS monitoring, relying instead on clear staging, professional oversight and the strength of the underlying scheme.
The solution
A staged development facility was structured with a total net loan of £1.1m, released in tranches aligned to key phases of the build:
• Initial funding to support ground works, structural elements and formation of the shell
• Subsequent drawdowns for first and second fix
• A defined contingency allowance built into the facility
The client had already invested significant capital into the project, including acquisition costs, professional fees and early works, ensuring strong alignment throughout the development process. All funds advanced under the facility were ringfenced for the sole purpose of delivering the scheme.
The facility was structured with a clear, credible exit strategy based on long-term retention and refinance, supported by diversified residential and commercial income streams across the completed development.
The outcome
The funding structure enabled the client to progress a complex town centre redevelopment that would not have been achievable through conventional lending routes. By aligning the facility to the realities of ownership, planning and delivery, the client was able to move forward with certainty and control.
The completed scheme will deliver a significant number of residential units alongside commercial space, generating strong recurring income and supporting a long-term investment strategy. Importantly, the finance supported the client’s broader commercial objectives rather than constraining them.