{"id":7892,"date":"2026-01-31T05:02:35","date_gmt":"2026-01-31T05:02:35","guid":{"rendered":"https:\/\/second-home.uk\/?p=7892"},"modified":"2026-01-31T05:02:35","modified_gmt":"2026-01-31T05:02:35","slug":"avamore-capital-provides-4-4m-refinance-for-essex-scheme","status":"publish","type":"post","link":"https:\/\/second-home.uk\/?p=7892","title":{"rendered":"Avamore Capital provides \u00a34.4m refinance for Essex scheme"},"content":{"rendered":"<p>Avamore Capital has completed a \u00a34.4 million development refinance facility for a residential project in Shoeburyness, Essex, enabling the scheme to proceed to construction within a constrained timeframe.<\/p>\n<p>The transaction involved refinancing short-term debt that was approaching expiry, with the developer facing potential penalty charges that could have disrupted the construction programme. The lender structured the facility to cover both site acquisition and build costs for the family housing development.<\/p>\n<h2>Project details<\/h2>\n<p>The scheme has full planning consent for residential development aimed at owner-occupiers, with a gross development value of approximately \u00a34.4 million. The borrower is an established residential developer who previously completed a nearby terraced housing scheme that achieved sales values aligned with forecasts for the current project.<\/p>\n<p>Adam Butler, director of sales and marketing at Avamore Capital, said: \u201cExperienced developers don\u2019t always fit neatly into rigid lending frameworks, particularly when timing is critical. Our role is to understand the fundamentals of a scheme and the capability behind it, and then structure funding that allows projects to move forward rather than stall.\u201d<\/p>\n<p><!--   \t\t  \t\t\t \t\t\t\tgoogletag.cmd.push(function() { googletag.display(\"div-gpt-ad-1715620536068-0\"); }); \t\t\t  \t\t  \t -->  \t <\/p>\n<h2>Financing structure<\/h2>\n<p>The refinancing requirement emerged after the developer secured short-term debt against the site following planning approval. Avamore Capital took additional security across the wider group to refinance the existing debt and provide funding certainty at a critical stage.<\/p>\n<p>Spencer King, underwriter at Avamore Capital, said: \u201cThe key challenge was the timeframe, and by focusing on the fundamentals of the deal and taking a pragmatic view on structure and security, we were able to deliver a solution that worked for the client.\u201d<\/p>\n<p>The transaction reflects ongoing demand for flexible development finance in the UK residential sector, particularly for experienced developers working to tight delivery schedules. The scheme is now proceeding to construction with the refinancing completed within the required deadline.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Avamore Capital has completed a \u00a34.4 million development refinance facility for a residential project in Shoeburyness, Essex, enabling the scheme to proceed to construction within a constrained timeframe. The transaction involved refinancing short-term debt that was approaching expiry, with the developer facing potential penalty charges that could have disrupted the construction programme. The lender structured [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7893,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-7892","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 v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Avamore Capital provides \u00a34.4m refinance for Essex scheme - 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\/avamore-capital-provides-4-4m-refinance-for-essex-scheme\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avamore Capital provides \u00a34.4m refinance for Essex scheme - Second Home\" \/>\n<meta property=\"og:description\" content=\"Avamore Capital has completed a \u00a34.4 million development refinance facility for a residential project in Shoeburyness, Essex, enabling the scheme to proceed to construction within a constrained timeframe. The transaction involved refinancing short-term debt that was approaching expiry, with the developer facing potential penalty charges that could have disrupted the construction programme. 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