A developer converting a listed manor house into a 24-suite countryside retreat experienced delays caused by local authority heritage approvals. Their development funding expired before operational income could commence, creating a risk of default and loss of equity.
Million Plus Private Finance successfully repositioned the project for lenders by presenting updated build-cost verification, confirmed operator agreements, and forward-booked functions revenue. We secured £14.1m exit finance with rolled-up interest for twelve months, enabling final completion, staff recruitment, and phased launch. The refinance preserved the developer’s capital structure and prevented sale at a distressed valuation. Within the first quarter of operation, occupancy tracked 12% above forecast, supporting a planned refinance onto long-term hospitality lending.
