Eutopia Homes also sign a pivotal build contract with Living Heritage, underscoring its commitment to delivering essential housing solutions for Exeter
Project is set to bring 92 new build residential units to fruition, aiming for completion by late 2025.
London, UK – Ingenious today announces that Ingenious Real Estate has closed a new 27-month £18.9m development funding facility with housing developers, Eutopia Homes, with joint venture partner Housing Growth Partnership (HGP). Eutopia Homes has signed a building contract with Living Heritage, the contracting arm of the Gr8Space group, illustrative of the firm’s commitment to delivering quality new housing in Exeter.
The project aims to bring 92 residential units to the market, contributing to the city’s active housing market and enriching the choice and standard of living for its residents. With enabling works already underway, the primary construction phase is scheduled to commence in March 2024, aiming for completion by late 2025.
We are delighted to be working with Eutopia Homes on their exciting Isca Gardens project in Exeter. In providing debt funding, we are excited to see the journey towards the delivery of 92 high-quality, efficient, and affordable homes. We continue to see growth and performance in the developments we support. Our team is continuing to expand in both size and expertise and we remain confident and committed to supporting the UK residential real estate sector and providing flexible funding solutions to great projects and great teams.
An integral aspect of this development is incorporating 18 ‘Affordable Private Rental’ units tailored for the city’s key workers. This innovative initiative not only addresses the acute housing demand among essential personnel but also represents a pioneering venture for Exeter. Distinguished by its sustainable ethos, the development will showcase a car club, electric charging points, and substantial cycling infrastructure. Moreover, the project includes financial contributions to support the establishment of a new cycle highway, reinforcing Eutopia Homes’ commitment to fostering sustainable communities.
Tom Brown
Managing Director at Ingenious Group
We are delighted to close the funding and award the construction contract for our second Exeter scheme. This purpose-built rental product, designed with residents’ interests in mind, aligns perfectly with our vision. Our inclusion of affordable market rental units for key workers underscores our commitment to addressing pressing needs in the city.
Scott Hammond
CEO at Eutopia Homes
Employing modern construction methodologies, Eutopia Homes will collaborate closely with Living Heritage to reduce waste and streamline delivery efficiency. The implementation of lightweight gauge steel (LGS) combined with off-site production will significantly enhance the project’s Environmental, Social, and Governance (ESG) performance while minimising its ecological footprint. The development will also integrate solar panels on the roof and air source heat pumps, promoting cleaner and greener living for future residents.
We are thrilled to reach this milestone with Eutopia Homes. This project will bring much-needed new rental stock to Exeter, transforming the Exmouth Junction area. Our support for this high-quality and sustainable development resonates with Exeter City Council’s ambition to achieve net-zero emissions by 2030.
John McKeon
Investment Director at HGP
The Ingenious Real Estate team has extensive experience providing senior debt and capital to experienced mid-market developers in the residential, commercial and mixed-use sectors partnering with a range of commercial relationships built up over many years.
This document is a press release for information only and is not to be distributed to retail clients. Ingenious is a trading name of Ingenious Capital Management Limited, which is authorised and regulated by the Financial Conduct Authority under Firm’s Reference Number 562563.
As interest rate increases continue to bite and the costs and challenges of property development, especially in London, remain high, we expect to see a continuation of the market trends we have seen in 2023 going into the New Year. It’s reassuring to note that as we enter 2024, there is a noticeably more stable outlook for inflation compared to what we were faced with at the beginning of 2023.
Buy-to-let market
Whilst buy-to-let (BTL) investors are benefitting from double-digit increases in rents across the UK, the costs to many private landlords from higher interest rates and the increased tax burden, means we expect many private investors will continue to exit the market, which will further reduce the supply of rental stock. Looking forward, the landscape of the UK residential rental market continues to shift towards purpose-built accommodation owned and managed by financial institutions. Large pension funds and insurance companies are taking the lead here and will increasingly dominate the larger developments with significant financing opportunities arising in the mid-market development space.
Support for first-time buyers
First-time buyers are crucial to the health of the wider market, economy and support our way of life here in the UK. This crucial cohort of potential buyers are currently faced with increasingly expensive mortgages requiring high deposits or the challenges and costs associated with renting. The government should look closely at how they can carefully intervene in this area to allow first-time buyers access to the market in a way that does not unduly inflate property prices and provides good value for taxpayers.
Residential prices holding firm
The UK continues to face a shortage of housing infrastructure, which will continue to support property prices despite the higher costs of borrowing. Widespread predictions of a noticeable decline in residential prices linked to higher borrowing rates seem to have been overstated. Indeed, there are noticeable factors that are applying the break to price falls. With residential rents experiencing a year-on-year increase of approximately 12%, there is both opportunity and liquidity within the Build to Rent, Private Rented (PRS), Purpose-Built Student Accommodation (PBSA), and Co-Living spaces. We are firmly focused on serving the needs of developers operating in those sectors alongside those operating in the Build to Sell market.
Impact of a potential change of government
Housing remains a fundamental political issue here in the UK and ranks highly on the list of concerns for voters up and down the country. As such, it is imperative for every political party, regardless of its affiliation, to include comprehensive policies addressing the core issues of supply and affordability in their manifesto commitments. We don’t expect to see a significantly different approach should a change of national government take place during 2024. Many of the issues on the ground relate to local planning policies and decisions, which continues to be a big challenge for developers to navigate. The position on the ground locally seems unlikely to be radically altered by a change in national politics.
Market outlook
The New Year will bring with it a new and exciting set of challenges and opportunities for growth and progression in what we do. We are looking forward to continuing to work with borrowers and investors and delivering for them. The dynamic landscape of the markets that we serve and the wider economy requires us to evolve to stay relevant in addressing diverse challenges, including the climate crisis and changes in the way we are all living. 2024 will see Ingenious broaden the reach of our widely embraced development lending product. This expansion aims to offer extended terms for stabilisation to specialised developers within the rental sectors. Additionally, special lending terms will be introduced for developers with a specific focus on minimising embedded carbon in their construction practices.
The development will consist of twenty-two 1, 2 and 3-bed residential units on a brownfield site
Represents first fully modular construction funded by Ingenious
Modular construction reduces construction time, site waste, and the use of carbon-intensive materials like concrete
London, UK – Ingenious Real Estate today announces the completion of a new loan to support the development of a low-carbon modular residential scheme on Sutton Road in Southend-on-Sea, with a 69% LTGDV. The borrower is part of QB Technology, a UK-based innovative modular construction company that uses modern methods of construction and advanced digital tools to produce highly-engineered modular building systems off-site.
The apartments will benefit from private balconies, undercroft parking and cycle storage. Each unit uses light gauge steel frames the size of shipping containers which are fitted out on an assembly line at QB Technology’s factory in West Sussex. Completed units are then delivered to the site where they will be connected together. This will decrease site waste and increase efficiencies by reducing construction time due to disruption from inclement weather.
The scheme will reduce carbon output both during development and once in use. The modular construction will decrease the use of carbon-intensive materials such as concrete, and produce homes with greater airtightness, large windows, and solar shading to minimise heating requirements. The development will use a PV solar panel array to supply over 10% of the building’s electricity.
Ingenious has funded schemes which use pre-fabricated panels before, such as a loan facility with property developer, Citu, to fund 120 units at the Climate Innovation District in Leeds. It has also funded low-carbon schemes such as The How in Cambridgeshire, a development of 19 sustainably built, energy-efficient houses.
Most recently, the firm has agreed a bridging loan against an asset in South West London; a £26m loan financing deal to support the development of a mixed-use scheme in East Ham, London; and an industrial development facility to fund the 48 industrial units near Poole.
We are delighted to have supported the development of an innovative low-carbon focussed site, providing sustainable homes with lower operating costs for buyers. This deal complements our growing portfolio of low-carbon developments and we’re proud to continue providing flexible financing solutions for sustainable projects while maintaining our commitment to our investors. Low operating cost homes have never been more vital for buyers, and we will continue to source exciting new low-carbon focussed developments in the coming months.
Tom Brown
Managing Director of Real Estate at Ingenious
About Ingenious Real Estate
Formed in 2013, Ingenious Real Estate focuses on providing senior development and bridging finance to well-designed schemes in locations across the UK that have a proven demand. Typical loan terms are 18-30 months, and the team has since completed more than £600 million worth of transactions. The current portfolio balance is weighted towards residential.
This document is a press release for information only and is not to be distributed to retail clients. Ingenious is a trading name of Ingenious Capital Management Limited, which is authorised and regulated by the Financial Conduct Authority under Firm’s Reference Number 562563.
Registered Address: 15 Golden Square, London, W1F 9JG, United Kingdom.
The development will consist of 88 1, 2 and 3-bed residential units along with commercial units and a gym
The site is located next to West Ham’s former football stadium, Upton Park
London, UK – Ingenious today announces that Ingenious Real Estate Finance has completed a £26m loan financing deal to support the development of a mixed-use scheme consisting of 88 apartments, commercial space and a gym at the former Boleyn Cinema site in East Ham, London.
This deal was introduced by broker Daniel Sovitch at Life Financial Solutions.
The development will consist of 88 1, 2 and 3-bed residential units along with commercial units and a gym.
The site is located next to West Ham’s former football stadium, Upton Park.
The new build element of the scheme will be a 5-8 storey building comprising four blocks around a communal courtyard with additional roof gardens. Each flat will have a balcony or terrace.
This is one of a number of recent new transactions Ingenious Real Estate has closed. Including two loans for £26m in support of the development of 55 new-build family homes in Somerset and Devon; a Bridging loan against an asset in Battersea, South West London and our first Industrial development facility to fund the construction of 48 industrial units near Poole.
These new transactions demonstrate Ingenious’ support for residential and commercial real estate development and projects across the UK.
We are delighted to have supported the development of an innovative low-carbon focussed site, providing sustainable homes with lower operating costs for buyers. This deal complements our growing portfolio of low-carbon developments and we’re proud to continue providing flexible financing solutions for sustainable projects while maintaining our commitment to our investors. Low operating cost homes have never been more vital for buyers, and we will continue to source exciting new low-carbon focussed developments in the coming months.
Tom Brown
Managing Director of Real Estate at Ingenious
I would like to thank Howard, Rupert and Anabelle at Ingenious for their flexible approach and proactivity in getting this facility over the line. It’s always exciting to follow the progress and build of a project like this right to the end to project completion and I’m delighted to have played a pivotal role in helping it get there.
Daniel Sovitch
Director of Life Financial Solutions
My family has owned this site for over 20 years, bringing forward our vision of regenerating the Old Cinema site. We are very pleased to have worked with both Daniel and Howard to secure financing for the site and I am excited to start construction.”
Adil Naeem
Boleyn Height
Loan paves the way for the creation of a council-backed £260 million mixed-use commercial and residential scheme which will deliver 943 homes and a new public park for the city
The development will create 600 jobs during the construction phase, deliver £229.5 million GVA to the local economy and will create up to 313 additional jobs once built.
Ingenious today announces that Ingenious Real Estate Finance has completed a bridging loan deal with Cole Waterhouse to support its development of a key site in Digbeth, Birmingham, paving the way for the creation of Upper Trinity Street (UTS), a £260 million mixed-use scheme which will deliver 943 homes and a new public park for the city.
Ingenious Real Estate entered into an agreement with Cole Waterhouse to agree a bridging loan over 24 months to acquire the land from multiple private owners, with Auxillium Real Estate acting as the debt broker.
The purchase comes after Birmingham City Council granted planning permission in July 2021 for the transformation of the industrial land into a cultural, commercial and residential scheme. It will include the creation of Pump House Park which will sit alongside the canal and the historic lock keeper’s cottage which will be retained.
We are delighted to have supported the development of an innovative low-carbon focussed site, providing sustainable homes with lower operating costs for buyers. This deal complements our growing portfolio of low-carbon developments and we’re proud to continue providing flexible financing solutions for sustainable projects while maintaining our commitment to our investors. Low operating cost homes have never been more vital for buyers, and we will continue to source exciting new low-carbon focussed developments in the coming months.
Tom Brown
Managing Director of Real Estate at Ingenious
Last year, Cole Waterhouse signed the first tenants at UTS including the world’s first Museum of Youth Culture, Birmingham Music Archive and Digbeth’s Pat Benson Boxing Academy which together will occupy over 15,000 sq. ft. of space. Designed by Corstorphine & Wright, UTS will deliver a blend of rentable and open market sale homes, some with live-work space and roof gardens, a 133-bedroom hotel, 60,000 sq. ft. of flexible commercial space, car parking and large new areas of public realm across a network of landscaped yards, squares and hidden spaces.
The development of UTS is expected to create 600 jobs during the construction phase, deliver £229.5 million Gross value add (GVA) to the local economy and will create up to 313 additional jobs once built. Phase one will see the development of a portion of the residential element of the scheme comprising build-to-rent housing.
I would like to thank Howard, Rupert and Anabelle at Ingenious for their flexible approach and proactivity in getting this facility over the line. It’s always exciting to follow the progress and build of a project like this right to the end to project completion and I’m delighted to have played a pivotal role in helping it get there.
Daniel Sovitch
Director of Life Financial Solutions
My family has owned this site for over 20 years, bringing forward our vision of regenerating the Old Cinema site. We are very pleased to have worked with both Daniel and Howard to secure financing for the site and I am excited to start construction.”
Adil Naeem
Boleyn Height
Ingenious Real Estate continues to secure deals with, amongst others, loans totalling £26 million to support the development of 55 new-build family homes in Somerset and Devon; an industrial loan in Battersea, South West London for planning for a modern 8-unit warehouse & logistics scheme spanning over 30,000 square feet; a development facility to fund 48 industrial units at Magna Park near Poole; and a bridging finance deal in Felixstowe for 19 two, three and four bed houses.
We continue to see record growth year-on-year, a direct result of the fantastic team we have here at Ingenious which is continuing to expand in both size and expertise. We remain cautiously optimistic about the prospects for the real estate sector, particularly the continued demand for residential space. There has been ongoing government support to meet the acute housing shortage in the UK and we are committed to supporting real estate developers with flexible financing solutions to meet demand.
Howard Sefton
continued
Ingenious believes that the successful loan agreements represent the continued demand for residential real estate development across the UK, despite initial concerns around delays to construction as a result of COVID-19.
Formed in 2013, Ingenious Real Estate focuses on providing senior development and bridging finance to well-designed schemes in locations across the UK that have a proven demand. Typical loan terms are 18-30 months, and the team has since completed more than £600 million worth of transactions. The current portfolio balance is weighted towards residential, with the majority of Ingenious developments qualifying for Help to Buy.
Ingenious Real Estate is aiming for net-zero developments to account for 25 per cent of its portfolio by December 2022.
The commitment follows the firm’s recent backing of the UK’s first low-carbon urban neighbourhood, The Climate Innovation District in Leeds.
A £35m revolving credit loan facility from Shawbrook Bank will enable the investment manager to continue its growth.
Ingenious Real Estate is now focused on supporting more sustainable commercial and residential property schemes in the UK following the latest funding commitment from Shawbrook.
The London-based investment manager, part of the Ingenious Group, is aiming for net-zero developments to account for 25 per cent of its portfolio by December this year and has secured a new £35 million revolving credit facility from Shawbrook Bank to originate sustainable opportunities.
Founded in 2014, Ingenious Real Estate provides debt and equity capital to experienced, mid-market developers in the residential, commercial and mixed-use sectors. To date, its team has provided loans worth £500m and supported the completion of 2,400 units.
The firm recently provided a £19m loan to developer Citu to support the development of the Climate Innovation District (CID) in Leeds city centre – the UK’s first low carbon urban neighbourhood. More than 800 homes will be built in four phases using a timber-framed system designed to reduce carbon emissions at each stage of development.
Sustainability sits at the heart of our investment strategy and we want to support those innovative, cutting edge projects that will be vital in pushing the boundaries of sustainable development as we aim for net-zero.
The Leeds Climate Innovation District represents a landmark development project in the UK and this revolving credit facility from the Speciality Finance team at Shawbrook will enable us to support more such schemes, while driving further growth in our real estate development and bridging finance business.
Howard Sefton
Investment Director at Ingenious Real Estate
We share the same values as Ingenious in supporting ambitious developers to deliver innovative and sustainable schemes. This credit facility will provide Ingenious with the flexibility it needs to serve their clients’ complex funding needs.
We have a long-standing relationship with Ingenious and look forward to seeing the experienced team support more progressive schemes on the scale of the Leeds CID.
Luke Randell
Associate Director at Shawbrook Bank
Latest loans will help deliver regional family homes
Strong loan activity reflects structural demand for residential units following the end of the stamp duty holiday
In Felixstowe, Ingenious Real Estate has agreed a development finance facility of £10.3m over 18 months with existing client Generator Group, to fund the development of 21 three and four bedroomed family homes and 10 one and two bedroomed flats. This latest agreement represents a loan to gross development value (LTGDV) of 70%, linking in with earlier phases of an existing and proven project.
In Gateshead, Ingenious Real Estate has agreed a development finance deal with The Morton Group Ltd to support the development of 17 family homes. The development features a mix of three, four and five bedroomed properties in Street Gate. The facility of £4.6m has been agreed over 18 months for an LTGDV of 68%.
In Abberley, Ingenious Real Estate has agreed a development finance facility with a regular client, Piper Homes. This is the 4th deal between Ingenious and Piper Homes. The finance facility of £5m over 21 months has an LTGDV of 70%. The Abberley site, in the countryside between Worcester and Tenbury Wells will offer a range of 25 two, three, four and five bedroomed homes, including two bedroomed bungalows with excellent finishes throughout.
Sustainability sits at the heart of our investment strategy and we want to support those innovative, cutting edge projects that will be vital in pushing the boundaries of sustainable development as we aim for net-zero.
The Leeds Climate Innovation District represents a landmark development project in the UK and this revolving credit facility from the Speciality Finance team at Shawbrook will enable us to support more such schemes, while driving further growth in our real estate development and bridging finance business.
Howard Sefton
Investment Director at Ingenious Real Estate
We share the same values as Ingenious in supporting ambitious developers to deliver innovative and sustainable schemes. This credit facility will provide Ingenious with the flexibility it needs to serve their clients’ complex funding needs.
We have a long-standing relationship with Ingenious and look forward to seeing the experienced team support more progressive schemes on the scale of the Leeds CID.
Luke Randell
Associate Director at Shawbrook Bank
Formed in 2013, Ingenious Real Estate focuses on providing senior development and bridging finance to well-designed schemes in locations across the UK that have a proven demand. Typical loan terms are 18-30 months, and the team has since completed more than £590 million worth of transactions. The current portfolio balance is weighted towards residential, with the majority of Ingenious developments qualifying for Help to Buy.
In September 2020, Ingenious became the first alternative lender to become a member of the UK Green Building Council (UKGBC). As part of this membership, Ingenious is actively seeking to engage through training programmes, thought leadership and access to the latest research so that it helps drive sustainable standards within the sector.
Latest loans will help fund developments in London and Liverpool
Strong loan activity reflects continued confidence in sector following delays to construction
Ingenious is today delighted to announce that Ingenious Real Estate Finance LLP (Ingenious Real Estate) has completed four new loans totalling £52million to fund new residential developments in Liverpool and across Greater London.
In Liverpool, Ingenious has agreed a development finance facility of £32.5m over 24 months to fund the remaining construction of 1,000 student units with café, gym, cinema, dining rooms, and study rooms in the city’s Knowledge Quarter.
In London, Ingenious has agreed three loans totalling £19.8m for developments in Harrow, Hadley Wood and Croydon.
A facility of £11.4 million over a 22-month term, with a LTGDV of 70% has been agreed with developer Tremula Investments Limited to fund 40 flats in Harrow, North West London.
In Hadley Wood, North London, a £5.9 million development finance facility has been agreed with Toorak Apartments Limited over a 22-month term with a LTGDV of 66% to fund the demolition of the existing building and construction of a block of nine apartments – all completed to a high specification.
Finally, a £2.5 million facility has been agreed with Zunikh Property Developments to fund the development of six townhouses in Croydon, South London. Each unit benefits from three bedrooms, a study, private garden and roof terrace. The loan term is 18 months with a LTGDV of 70%.
We’re really pleased to be able to support these projects in Liverpool and across London. We continue to see appetite for quality development deals across the country as pricing & demand remain strong. We’re delighted to be working with all our partners on these projects and look forward to progressing with each development.
Tom Brown
Managing Director of Real Estate
These latest loan agreements represent the continued demand for residential real estate development across the UK, despite initial concerns around delays to construction as a result of the impact COVID-19 had on the sector. Previous deals this year include a £19m loan facility with property developer Citu, to fund the next 120 units at the Climate Innovation District (CID), the UK’s largest sustainable development, in Leeds; a £5.3 million loan facility to a joint venture between Indigo Capital Solutions and Blakesley Estates for a development in the seaside town of Westward Ho!, North Devon and a partnership with Piper Homes, to finance a £7.5 million loan for 26 family homes in the village of Upper Rissington in the Cotswolds.
Formed in 2013, Ingenious Real Estate focuses on providing senior development and bridging finance to well-designed schemes in locations across the UK that have a proven demand. Typical loan terms are 12-30 months, and the team has since completed more than £500 million worth of transactions. The current portfolio balance is weighted towards residential, with the majority of Ingenious developments qualifying for Help to Buy.
In September 2020, Ingenious became the first alternative lender to become a member of the UK Green Building Council (UKGBC). As part of this membership, Ingenious is actively seeking to engage through training programmes, thought leadership and access to the latest research so that it helps drive sustainable standards within the sector.
For over a year, many investors have held off on making vital decisions due to the fear of the unknown, longer-term impact of the pandemic. While investors can be forgiven for their continued caution when it comes to making long-term financial planning decisions, they need to accept that yet another year or more of inaction brings its own real risk. And the longer they vacillate, the more risk they are taking in missing out on the potential benefits of the right financial strategy.
Advisers with clients planning for later life are typically looking to achieve steady, inflation-beating returns with low volatility. But investors are cautious about listed markets where they see high volatility driven by market sentiment, so increasingly, many are considering unlisted investments as they are not affected in the same way. Still, the pandemic has had a profound impact on most industries, but one sector that has remained resilient, and in fact surprised most with positive results, is residential real estate.
Residential real estate
The affordable end of the housing market benefits from some core fundamentals that helped it withstand the pressures experienced by other sectors. There is a structural lack of supply to meet demand in the UK and in 2018 alone, 80,000 fewer houses1 were built than were required. This has caught the attention of the Government and supportive policies such as Help to Buy has further sustained the demand for completed housing. Most recently, the Government identified the property sector as key to the UK’s economic resilience and recovery from COVID-19, with other measures such as the stamp duty holiday contributing to average house prices ending 2020 up 8.5%2.
Conservative secured lending model
Despite these positive forces, there are risks with investing in the property market, so a conservative strategy is key to protecting investors. Rather than taking an equity or ownership position in a single housebuilder, developer or physical property, a portfolio-based, secured lending model offers a number of risk-mitigating benefits. By lending to a range of developers, carefully selected on a project-by-project basis, and earning a fixed rate of interest, there is inherently lower volatility. Protection is enhanced by taking a senior debt position on each development. Clear loan terms also mean that regular interest is paid, and the repayments of the loan begin as soon as discrete units of a development are sold, creating liquidity for the portfolio and maintaining diversification benefits for investors. By contrast, equity or ownership investments and their valuations can fluctuate over time as the asset price changes and ultimately, any drop in value is immediately felt by the investor. In the lending model, this isn’t the case, and any loss in value is initially felt by the developer, not the lender.
How can your clients benefit across later life
While this strategy has been proven to deliver steady investment growth over time for investors in the post-retirement stages of their lives, they often have an additional objective to consider. How can they pass on maximum wealth to their loved ones when they die? There are two contributory parts to this objective. First, which we have already covered, is the need to grow their wealth to combat the effects of inflation and drawdowns. Second, is the wish to mitigate the impact of Inheritance Tax, which can reduce one’s legacy by 40% upon death. Business Relief services are a popular way for investors to select an investment that meets both their growth target and the objective to optimise wealth transfer. They also retain full access to their savings in case their circumstances change, or an emergency arises. This level of flexibility and security should ease the concerns of investors who are paralysed by caution in these uncertain times and allow them to confidently plan for their future goals today.
1Savills, 2018 2ONS, UK House Price Index: December 2020
Finance facility of £5.3 million agreed for North Devon development joint venture between developers, Indigo Capital Solutions and Blakesley Estates
Partners with established new homes builder, Piper Homes, to finance a £7.5 million loan for 26 family homes in the Cotswolds
Ingenious is today delighted to announce that Ingenious Real Estate Finance LLP has completed two new loans totalling £12.8 million to fund new residential development projects in North Devon and the Cotswolds.
Westward Ho!, North Devon
Ingenious is providing funding for the development of 22 apartments to a joint venture between Indigo Capital Solutions and Blakesley Estates in the seaside town of Westward Ho!, North Devon. The facility is £5.3 million over a 22-month term, with a Loan-to-Gross-Development-Value (LTGDV) of 69%. The apartments will benefit from sea views and be completed to a high specification.
In addition, Ingenious has partnered with established new homes builder, Piper Homes, to finance a £7.5 million loan for 26 family homes (four flats and 22 houses) in the village of Upper Rissington in the Cotswolds. The loan term is 21 months with a LTGDV of 70%. The new homes will be ideally situated just a short walk from the outstanding Rissington Primary School as well as local amenities. This will be the third project on which Ingenious has partnered with Piper Homes.
Tom Brown, Managing Director of Real Estate at Ingenious, commented: “We’re really pleased to be able to support these two projects in Devon and the Cotswolds. This represents the third time we have worked with Piper Homes and we’re delighted to be working with them again on this exciting new development.”
Upper Rissington, Cotswolds
As the economy continues to reopen and recover, we are determined to source, fund and commit to high quality developments across the UK and continue to seek further, similar development opportunities. We are cautiously optimistic about the prospects for the real estate sector, particularly the continued demand for residential property, and we remain committed to providing flexible, cost effective financing solutions for our clients.
Formed in 2013, Ingenious Real Estate focuses on providing senior development and bridging finance to well-designed schemes in locations across the UK that have a proven demand. Typical loan terms are 18-30 months, and the team has since completed more than £480 million worth of transactions. The current portfolio balance is weighted towards residential, with the majority of Ingenious developments qualifying for Help to Buy.
In September 2020, Ingenious became the first alternative lender to become a member of the UK Green Building Council (UKGBC). As part of this membership, Ingenious is actively seeking to engage through training programmes, thought leadership and access to the latest research so that it helps drive sustainable standards within the sector.
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This cookie is installed by Google Analytics. The cookie is used to calculate visitor, session, campaign data and keep track of site usage for the site's analytics report. The cookies store information anonymously and assign a randomly generated number to identify unique visitors.
_gat_gtag_UA_*
1 minute
Google Analytics sets this cookie to store a unique user ID.
_gid
1 day
Google Analytics sets this cookie to store information on how visitors use a website while also creating an analytics report of the website's performance. Some of the collected data includes the number of visitors, their source, and the pages they visit anonymously.
AnalyticsSyncHistory
1 month
Linkedin set this cookie to store information about the time a sync took place with the lms_analytics cookie.
CONSENT
2 years
YouTube sets this cookie via embedded YouTube videos and registers anonymous statistical data.
ln_or
1 day
Linkedin sets this cookie to registers statistical data on users' behaviour on the website for internal analytics.
PFCE
1 month
Profound email marketing sets this cookie to detect a click through from a marketing email.
PFCT
1 month
Profound email marketing sets this cookie to detect a click through from a marketing email.
vuid
2 years
This domain of this cookie is owned by Vimeo. This cookie is used by vimeo to collect tracking information. It sets a unique ID to embed videos to the website.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Cookie
Duration
Description
bcookie
1 year
LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser IDs.
bscookie
1 year
LinkedIn sets this cookie to store performed actions on the website.
test_cookie
15 minutes
doubleclick.net sets this cookie to determine if the user's browser supports cookies.
VISITOR_INFO1_LIVE
5 months 27 days
YouTube sets this cookie to measure bandwidth, determining whether the user gets the new or old player interface.
YSC
session
Youtube sets this cookie to track the views of embedded videos on Youtube pages.
yt-remote-connected-devices
never
YouTube sets this cookie to store the user's video preferences using embedded YouTube videos.
yt-remote-device-id
never
YouTube sets this cookie to store the user's video preferences using embedded YouTube videos.
