Development Finance Bridging Loans About News Contact Intermediaries MSP Capital lends £11 million in biggest property deal to date by Rachel Hall on 4 October 2021 Our biggest development deal since we were founded 40 years ago has been completed. We agreed an £11 million loan to enable a 43-home scheme to come to fruition on a previously disused piece of land. The move marks a record year of growth for us with our loan book first breaking the £250 million threshold, and now standing at just over £350 million with contracted commitments. The new scheme, Swanwick Fields near Alfreton in Derbyshire, is a ground-up development that has required refinancing to keep build timescales on track. We agreed the loan with East Midlands housing developer Fairgrove, who expressed praise that we were able to provide an arrangement that is “competitive, flexible and a facilitator of growth for our business”. Swanwick Fields is one of the larger schemes that family-run Fairgrove has developed since it was formed in 1995. Stephen added: “It is a scheme that has been 15 years in the planning. When I first saw the site all those years ago it was unused land owned by a local businessman who needed to expand his nearby factory. “Due to the sloping nature of the site, I had suggested it would be more suitable for housing and eventually the planners agreed. “So through the sale of the site, he now has the ability to move his factory to a more suitable location, and we’re able to build 43 family homes.” Completion of the Swanwick Fields homes, a mix of four and five bedrooms, is expected in the second half of 2022. Sales have already been achieved for some of the properties as they are being built out in a phased allocation. prev next Contact Press Charity Newsletter LinkedIn Twitter MSP Capital, Strata House 12-14 Castle Street, Poole, Dorset BH15 1BQ Company number: 01543169 01202 743400 info@mspcapital.co.uk Privacy policy MSP Fraud Policy Onboarding process Sign Up To Our Newsletter Sign Up MSP Capital is a provider of non-regulated loans against properties that are registered in England and Wales. All Offers of Finance are subject to satisfactory legal due diligence, a valuation report, ‘know your client checks’ and, for Development Finance only, the initial monitoring surveyors reports. © 2021 MSP Capital. All rights reserved Our site uses cookies We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies. However you may visit Cookie Settings to provide a controlled consent.