Topland tagret investing £150 Million in residential sector and team up with Wolsey Securities
The international investment group, Topland, has just completed its first two deals with Wolsey Securities, as part of its ongoing commitment to the UK residential housing market.
By teaming up with Wolsey to draw on their residential and operational expertise, Topland will make funds available to inject into the market, ranging from senior debt through to mezzanine funding or a combination of both.
The investment will be focused on good viable schemes with planning consent, primarily in the South East of England and Commuting Belt to London. The first two deals are both for a South East based client of Wolsey and the total funding is just under £2million. Already in the pipeline are a number of other opportunities, which, if completed, will lead to approximately £8million of further funding being injected into the market through Wolsey.
Funding of up to 85% of development costs is available for the right schemes.
Stephen O’Brien, Managing Director of Wolsey Securities, says: “To be able to make available funding up to 85% of all development costs is exceptional in this market. This relationship with Topland enables us to deliver an attractively priced, high quality funding package. And with £150million to invest, there is a real opportunity now in the market for developers to grow their business.
If the scheme meets our criteria, with Topland, we will move quickly to support the developer and make the development happen. Loan sizes will typically fall into the range from £1million up to £10million.”