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Bridging Finance Rescues Landmark Anglesey Development

05/11/09

Specialist short-term lender, Bridging Finance Limited has recently come to the rescue of a cutting-edge, waterfront development on the south eastern shores of Anglesey.

The property is the brainchild of Mr Mike Davies, a builder with over 10 years of experience in the construction of one-off, luxury homes. He commissioned Russell-Hughes, a local firm of architects who are specialists in the design of bespoke, contemporary residential properties.

The Beach House development occupies a fantastic position overlooking the Menai Straits. It is close to Beaumaris and Menai Bridge, with Bangor located just 4 miles away. The lucky residents will enjoy a master bedroom, 3 further double bedrooms with ensuite facilities, a living area, fully fitted kitchen, extensive balconies surrounding 3 of the elevations, and a private deep water mooring.

The whole project nearly fell victim to the recession when Mr Davies' bank got cold feet over residential developments due to the prevailing economic conditions. Fortunately, Bridging Finance Limited was able to step in and quickly provided Mr Davies with the capital he needed. The property is now well on the way to completion.

Chris Baguley, Managing Director of Bridging Finance Limited said:

"As most people are aware, the availability of development funding at the major banks has dwindled away over the past 2 years. However, at Bridging Finance Limited we consider each case on its own merits and it was clear from the architect's drawings and our own site visits that the Beach House was no ordinary development. It's become known as 'The James Bond House' in our offices, as it looks like the kind of place that 007 would live in! "This is a genuine one-off property and I am delighted we were able to help Mr Davies with the funds he required to bring it into existence."

Mr Davies continued:

"The location of the development is simply stunning and the architects have come up with a modern and progressive design for the Beach House. It has been a fantastic building to work on and finding a backer that shared my enthusiasm has been a real boost. Bridging Finance Limited have really gone out of their way to support the scheme and help to ensure its success. The project is back on track and the final value of the property has been estimated at £1.3 to £1.5M. Several prestigious national agents have already expressed an interest in marketing it, so I am confident that it will quickly find a buyer."


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