Development Finance Planning Assistance Loan in action

• Planning Assistance Loan provided additional capital while enhanced planning permissions were secured.

We’ve supported developer Trinity Square Developments to add additional homes to its Surrey development with our new-to-market Planning Assistance Loan.

Trinity Square Developments, a niche development company with a strong construction background and an existing customer of Shawbrook, had acquired land in Kenley, Surrey, with the intention of building a single property. However, as the plans progressed, the developer identified an opportunity to expand the project to two semi-detached properties. This adjustment required enhanced planning permissions, which delayed the build. As a result, the developer needed additional funding support until the necessary planning was secured and construction could begin.

This can often be a crunch time for developers, where quick access to funding is essential. Our team supported the developer with its new-to-market Planning Assistance Loan, designed to support developers with property acquisition costs, or, as in this case, manage their cash flow during the particularly challenging time of accessing enhanced permissions.

In the case of Trinity Square Developments, we provided the Planning Assistance Loan, bridging the funding gap needed to secure approval for the expanded project. After six months, the developer then seamlessly transitioned to a development finance loan with us, who provided a bespoke facility and dedicated support to ensure the project’s ongoing success. The site is due to be ready in Summer 2024.

The success of this project was also made possible through the strong relationship we’ve built with the developer over the past five years. This project marks the sixth development for Shawbrook alongside Trinity Square Developments, highlighting its focus on building robust partnerships with their developer partners, providing tailored financial solutions that meet the developer’s evolving needs.

Rob Graham, Managing Director at Trinity Square Developments, comments:

“Shawbrook’s Planning Assistance Loan was the right option for us on this project as it allowed us the opportunity to increase the build to two semi-detached properties, maximising the potential of the site and elevating the project. Stewart and the Shawbrook team have been fantastic at understanding our vision and supporting us along the way.”

Stewart Budge, relationship director for the Southeast at Shawbrook, adds:

“Securing enhanced planning permissions can take time, and this can cause issues for developers who need to manage their cashflow while they wait to get building. Our research found that on average developers are waiting around seven months for planning permission to be granted, a long time for any developer, particularly as costs of labour and materials will continue to rise during this time.”