test-server2.sennett.co.uk | Bridge Brother
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The Game Changer...Land & BuildFunding100%Joint VentureFor Property DevelopersSee below for a typical break down of what to expect and how we work. At Bridge-IT, our aim is to make things as easy as possible for our partners. We look after all the funding, all the legals and all the pre and post contract work, allowing you to focus on the development and still take the majority share of profit.HOW IT WORKS
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The BasicsThe Benefits• We like to work with experienced developers.
• Projects would be multi-unit residential new build or conversions under *PDR in the mid-price bracket.
• Project length should be no more than 24 months with full planning permission already in place.
• Target of £2m – £15m. BB per unit, no more than £700K for Home Counties and £400K for other areas.
• Interest is charged on a blended mix of senior and mezzanine elements which is competitive.
• We work to ROCEs (Return On Capital Employed).
• Profit divided, typically 60/40% in the developer’s favour.
• We will hold the asset in a brand new Special Purpose Vehicle (SPV) owned by Bridge-IT.
* Permitted Development Rights – Commercial conversions to residential under PDR planning.• One stop solution, one set of legal fees, one relationship, one monitoring surveyor. Costs amalgamated = real savings.
• It doesn’t tie up your funds meaning you can turbo-charge your profits through multiple deals.
• Input some capital and earn a up to 10% p.a. as well as the bulk of the profits at the end of the term.
• Take on more projects with all the synergy & profit benefits.
• No need to service debt at any stage all interest can be rolled up to the end of the project.
• Option to take project management fees
• One JV funder covering all the costs, removes the need for inter-creditor agreements and keeps things simple.
• Land acquisition & property development funding, all under one roof.
• Everything under one roof with the support of experts.We pride ourselves on being expert property development funders with the aim of building sustainable, working relationships with our clients.SHOW ME THE JOINT VENTURE PROCESS
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Joint VentureTo make the Joint Venture process as easy as possible we've structured it into 6 simple phases, so you have complete confidence in the process.
PHASE ONE• Initial Application
• Complete online form
• Fast-track Appraisal
• Quick decision
PHASE TWO• Introduction to team.
• Documentation issued.
• Bridge-IT Joint Venture agreement completion.PHASE THREE
PHASE FOURPreparation of Bridge-IT Contract documentation
• Appointments
• Warranties
PHASE FIVEOn site meeting with Bridge-IT team.
Implement documentation
• Appointments
• Warranties
PHASE SIX• Commence works on-site
• Site progress meeting
• Bridge-IT monthly meetings
• Completion sign offOnce your completed application has been submitted you will have an answer within 72 hours.The phases above are a typical example, as each Joint Venture has different requirements and variables.
SHOW ME A CASE STUDY
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Case StudyBuckinghamshireNo. of units: 10
Duration: 18 months
Total funding: £3,850,649
Introducer Fee: £57,759The same developer as the Aldermaston project returned to us for a second Joint Venture partnership, following the recent and successful completion of a previous project, 100% funded by Bridge-IT.
This new opportunity was the site of a former public house that had since been demolished. The site came with full planning permission for the erection of 10 no. dwellings, comprising of 7 no. 2 bed flats, 2 no. 3 bed flats and 1 no. 3 bed detached house. The site was superbly located in Bourne End, near the station which provides fast links to Maidenhead/Crossrail. We were keen to get involved, purchasing the site as freehold with full vacant possession.
At the half way point of the construction our JV partner had received reservations for 6 of the 10 Units at above asking prices. -
Case StudyBuckinghamshireNo. of units: 10
Duration: 18 months
Total funding: £3,850,649
Introducer Fee: £57,759The same developer as the Aldermaston project returned to us for a second Joint Venture partnership, following the recent and successful completion of a previous project, 100% funded by Bridge-IT.
This new opportunity was the site of a former public house that had since been demolished. The site came with full planning permission for the erection of 10 no. dwellings, comprising of 7 no. 2 bed flats, 2 no. 3 bed flats and 1 no. 3 bed detached house. The site was superbly located in Bourne End, near the station which provides fast links to Maidenhead/Crossrail. We were keen to get involved, purchasing the site as freehold with full vacant possession.
At the half way point of the construction our JV partner had received reservations for 6 of the 10 Units at above asking prices.
