22 May 19 by Stephen Maycock
Valuation advice provided on exclusive single new build project with build cost of £1.1 million and estimated GDV of £1.8 million.
Acting on behalf of Aspire Commercial Finance in connection with a financing arrangement for a four storey, 4 bedroom, 523 sq m luxury dwelling with swimming pool, gym and integral double garage. The development is considered to provide one of the towns most exclusive new additions with uninterrupted sea views over Newquay Bay and private stepped access to Great Western beach.
Vickery Holman were instructed to prepare a Valuation of the Freehold interest of the property part way through its construction to support bank funding.
In order to provide the required end value for the development research had to be carried out not just of the local market but further afield to find similar exclusive, new build accommodation to support our opinion of value and provide security to the lender.
Pro-active liaison with all parties involved including the onsite contractors, architect and banks client ensured that we could provide the detailed valuation report and development appraisal that the bank required.
The valuation was submitted and finance approved enabling the scheme to progress.
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