{"id":11128,"date":"2026-05-17T06:07:26","date_gmt":"2026-05-17T06:07:26","guid":{"rendered":"https:\/\/second-home.uk\/?p=11128"},"modified":"2026-05-17T06:07:26","modified_gmt":"2026-05-17T06:07:26","slug":"avamore-funds-3-3m-development-with-highway-works","status":"publish","type":"post","link":"https:\/\/second-home.uk\/?p=11128","title":{"rendered":"Avamore funds \u00a33.3m development with highway works"},"content":{"rendered":"<p>Avamore Capital has provided \u00a33.3 million in development finance for a six-unit residential scheme that includes substantial highway infrastructure work, marking the lender\u2019s first transaction with a newly formed borrower partnership.<\/p>\n<p>The 18-month facility, structured at 68% loan-to-gross-development-value, will fund construction of six detached homes alongside off-site highway improvements, including carriageway widening and new footway installation. The highway works must reach 90% completion before vertical construction can commence.<\/p>\n<h2>New partnership structure<\/h2>\n<p>The loan represents the first joint project between three construction professionals, though one borrower had an existing relationship with Avamore. The lender assessed the deal based on individual experience rather than partnership track record.<\/p>\n<p>\u201cThis was a really interesting deal where the strength of the individuals involved stood out, despite this being their first project together,\u201d said Aidan Lesslie, relationship manager at Avamore Capital. \u201cHaving previously lent to one of the borrowers gave us additional comfort, and we were able to take a pragmatic view on the partnership as a whole.\u201d<\/p>\n<\/p>\n<h2>Infrastructure requirements<\/h2>\n<p>The project\u2019s infrastructure component added complexity to the financing structure. Avamore\u2019s underwriting process focused on the local highway authority\u2019s technical acceptance and the sequencing of the highway works relative to residential construction.<\/p>\n<p>\u201cThe structure required a detailed understanding of both the planning position and the timing of the highway works,\u201d said Saif Ali Khichi, underwriter at Avamore Capital. \u201cWe were comfortable with the sequencing risk given the authority\u2019s technical approval and the clear path to delivery.\u201d<\/p>\n<p>The transaction comes as the UK property market faces challenges, with <a href=\"https:\/\/www.propertywire.com\/news\/uk\/44-of-uk-homes-listed-for-sale-fail-to-find-buyers\">recent data showing 44% of homes listed for sale failing to find buyers<\/a>. Development finance remains available for schemes with clear delivery paths, though lenders continue to scrutinise partnership structures and project complexity.<\/p>\n<p>Joshua Rowe, transaction and structuring analyst at Avamore, coordinated the deal execution between the borrower and internal teams. The completion adds to the lender\u2019s ground-up development portfolio, which includes projects with technical or procedural complexity beyond standard residential construction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Avamore Capital has provided \u00a33.3 million in development finance for a six-unit residential scheme that includes substantial highway infrastructure work, marking the lender\u2019s first transaction with a newly formed borrower partnership. The 18-month facility, structured at 68% loan-to-gross-development-value, will fund construction of six detached homes alongside off-site highway improvements, including carriageway widening and new footway [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2934,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-11128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Avamore funds \u00a33.3m development with highway works - Second Home<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertywire.com\/news\/uk\/avamore-funds-3-3m-development-with-highway-works\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avamore funds \u00a33.3m development with highway works - Second Home\" \/>\n<meta property=\"og:description\" content=\"Avamore Capital has provided \u00a33.3 million in development finance for a six-unit residential scheme that includes substantial highway infrastructure work, marking the lender\u2019s first transaction with a newly formed borrower partnership. 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