Seeking to build a development of 46 flats on the site of a former care home on a complicated site in a busy corner of Exeter sounds like the kind of project it might be hard to raise finance for in the traditional manner. Which is exactly why Matt Gould of Gould Homes turned to Bricks Finance. And it proved to be the right decision, with all 28 flats from phase one in the Phoenix Court development already sold, and five flats reserved off plan for phase two.
Matt is full of enthusiasm for the role Bricks played in supporting his project: “I wouldn’t have said it was a risk because I knew we had something to be proud of here, but obviously sometimes it’s hard to persuade the banks of the same. “That’s where Bricks were brilliant. They are developers themselves so they get how it works. Once they had looked at the project here and realised what I was planning they were completely supportive. They take an interest and an ownership in what you do – not in a heavy-handed way – but once they back a project they are there for you as support as well as a lender. It’s been great and I couldn’t be happier about how it has all worked out.”
Now Matt, who has been developing homes in the region for 20 years, says he wouldn’t hesitate to return to Bricks with future projects which need finance. And, what’s more, he would like to be an investor too. “Definitely,” he reveals. “The whole thing works so well I can see myself wanting to invest in Bricks and its plans as well as being a borrower again when the project is right.“
“This has to be the future for this type of lending. It was so easy to arrange and we didn’t get bogged down in paperwork or meetings. When the guys from Bricks say they are going to back you they do, and it has been a real pleasure partnering with them on this project.”
For more information on the Phoenix Court development, see: https://www.gouldhomes.co.uk