Shawbrook and 3A Projects Ltd were first introduced in 2019, with the former supporting 3A with funding for an initial development of new build homes in Takeley, Essex. The Takeley project consisted of two, four-bedroom houses that sold very quickly at the price point expected. Thanks to the flexibility of the funding, the build of the site completed early, which enabled 3A to pay off the loan ahead of schedule.
Following the success of the initial project, a further two developments are currently in progress, located in Epping and Little Hallingbury. The first project in Epping consists of four executive-style houses which are now on the market. The Little Hallingbury development is made up of three, four-bedroom detached bungalows as well as a renovation and extension of an existing detached five-bedroom house, with work on schedule.
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3A and Shawbrook are now exploring the funding of an additional, fourth project to develop seven new properties near Great Dunmow, Essex. Principals Yan, Matt and Trevor approached Shawbrook due to their specific development requirements. By establishing a strong relationship over time, Shawbrook has been able to tailor funding to match 3A's requirements and support the developer's ambition for the projects. The loans provided have been on 12-to-18-month terms, with 60 to 65% loan to gross development values (GDVs).
Yan Stile, Principle at 3A Projects Ltd, said: "Shawbrook has been a fantastic partner since our initial introduction in 2019, and Patrick and his team have been there every step of the way to ensure our funding needs have been met – also supporting us through delays and challenges experienced due to Covid.
"They have been able to offer bespoke funding, and we are already looking to build on this relationship to develop further projects in the future."
Patrick Coughlan, Director at Shawbrook, said: "We're glad we've been able to support 3A Projects Ltd with some brilliant developments. We have built a strong relationship and look forward to hopefully providing further funding in the future.
"Yan, Matt and Trevor are all local to Essex and know their target demographic and market and are dedicated to developing quality housing in the home counties area."
Shawbrook and 3A Projects Ltd would also like to thank John Burke Associates who has supported the developments.
