SGL7 Ltd has secured a significant financial boost with a £2.9 million loan to aid their Anglesey holiday home project.
- The loan is intended to support the sale and marketing of 15 high-spec holiday homes in Anglesey.
- Shawbrook has provided a 12-month development exit loan as SGL7 faced an impending loan expiry with their original financier.
- This financial arrangement ensures the continuation of a project that features sustainability measures and planning restrictions for holiday use.
- Both parties expressed satisfaction with this collaboration, indicating potential for future partnerships.
SGL7 Ltd has successfully secured a £2.9 million development exit loan from Shawbrook, which will bolster their efforts in selling and marketing 15 holiday homes located in Anglesey. This move arrives at a critical juncture as the company faced the imminent expiration of their existing loan, necessitating timely financial intervention.
The loan from Shawbrook spans 12 months, allowing SGL7 to continue their project without disruption. These homes are distinguished by their high-spec finishes and sustainability features, along with a specific planning restriction that mandates their use exclusively as holiday accommodations.
Greg Pescott, a relationship director at Shawbrook, remarked on the importance of backing projects beyond their practical completion. He stated, “This outstanding Welsh holiday home development in Anglesey required support from a lender that could support past practical completion – and it’s brilliant that we were able to assist with our development exit solution.” His comments underline the strong partnership between the two entities.
Andrew Cartwright from SGL7 praised Shawbrook for their seamless support, emphasising the lender’s vital role: “Working with Shawbrook has been a seamless experience. They were able to step in when our existing funder would not extend the term, and their continued support and expertise has been invaluable to this development project.”
This initiative is part of a broader scheme, with future phases already planned, including 16 additional three-bedroom homes. As the development progresses, the current financial arrangement serves as a pivotal support structure, ensuring the project’s success and laying the groundwork for further expansion.
This financial partnership between SGL7 and Shawbrook reinforces the successful progression of the Anglesey holiday homes project.
