We are delighted to have advised on our first loan facility with Quantum Development Finance on behalf of our long-standing client Acorn Property Group.
Acorn has acquired a freehold site located in the beautiful Gloucestershire market town of Fairford in the Cotswold hills.
The scheme funded by QDF comprises a mixture of new build dwellings on site one to create 17 new build, private residential homes and on site two; the conversion of an existing building to create a further seven private residential homes. The two sites form part of a much wider site assembly by Acorn curated over the last two years.
SPF & Quantum have supported Acorn in this crucial transaction which was under significant time constraints and required a bespoke funding structure to overcome various complex planning obligations. Having worked with Acorn for many years now, the relationship and trust element between lender, borrower & broker was critical in getting the deal to completion.
Special mention to Rebecca M., the Quantum team, and their professional advisers Knight Frank, Naismiths and Glovers Solicitors LLP for their collegiate and round-the-clock assistance in getting this acquisition & development loan facility over the line in time.
Acorn Property Group comments: “We have worked with Daniel O’Neil at SPF for a number of years and have built a great relationship with him. He understands our needs and has consistently worked with great speed to meet our required timescales. The redevelopment of the site of the former Coln House School, in the picturesque market town of Fairford, is an ambitious and exciting project and we are delighted to be working with Quantum Development Finance on our first project with them, having worked previously with Rebecca, one of Quantum’s founders, for many years. We are thrilled to bring these wonderful buildings back to life, along with a collection of new homes fit for modern living, all designed to complement the rural setting.”
Quantum Development Finance comments: “We are delighted to resume our well-established relationships with Acorn and SPF. Lending on these sites required all parties to work collaboratively and quickly to address several complexities and credit is due to SPF, Acorn and the professional team for enabling this. We hope this is the first of many projects together and look forward to seeing Acorn bring these buildings back to life, alongside delivering several new build homes.”
