Hall Grange is an ambitious luxury housing development in rural Shropshire, where three architect-designed homes with a combined GDV of £3.25 million are nearing completion.
Although this represents the borrowers’ first ground-up residential development, they brought extensive professional expertise, significant personal investment and years of experience managing complex projects. For CrowdProperty, the project demonstrates why understanding the wider opportunity is often more important than relying on a single label.
For many borrowers, securing funding for a first ground-up development can be one of the biggest challenges they’ll face. Even where planning permission is in place, the site is owned outright and the fundamentals of the scheme are strong, lenders will naturally consider a developer’s track record when assessing risk.
Experience matters, but it isn’t the whole story. Hall Grange highlights why understanding the wider opportunity, the capability of the borrowers and the strength of the scheme can be just as important as track record alone.
The project
Set within the grounds of the historic Hadnall Hall in rural Shropshire, the project comprises the construction of three substantial new-build family homes as the first phase of a wider development, with two further homes planned as part of phase two.
Designed to complement the neighbouring Grade II-listed hall, the architect-designed homes combine traditional materials with contemporary layouts, premium specifications and modern energy-efficient construction. The result is an exclusive collection of high-quality homes that respects its historic setting while delivering exceptional modern family living.
Funding at a glance
Project: 3 luxury new-build homes
Project type: Ground-up development
Location: Shropshire
Loan amount: £1,885,000
Loan term: 21 months
Interest rate: 12%
GDV: £3,250,000 (including residual land value)
LTGDV: 58%
The challenge
The borrowers secured planning permission for three high-specification homes on land adjoining their own substantial listed property.
While this represented their first ground-up residential development, it was far from their first experience of managing complex projects. Both borrowers had established successful professional careers in complementary fields, had already undertaken the extensive refurbishment of Hadnall Hall itself, and had invested considerable time and resources into bringing this development opportunity forward.
Even so, many lenders would naturally focus on the absence of previous residential developments of this scale, particularly where the scheme involved delivering multiple high-value units. However, looking at the project through that single lens wouldn’t have reflected the strength of the overall opportunity.
The borrowers owned the development land outright, had already invested significantly in securing planning permission and progressing the scheme, and were committing substantial personal capital to the project. The absence of acquisition debt also resulted in a conservatively leveraged funding structure, providing a strong foundation for the development.
Our approach
Rather than defining the borrowers by what they hadn’t done, we focused on everything they had.
Alongside their professional experience, we considered their overall financial position, their commitment to the project and the quality of the proposed development. We also recognised the considerable work already undertaken before funding was required, from securing planning permission through to progressing the design and preparing the scheme for delivery.
Equally important was ensuring the funding reflected the realities of the project. Luxury homes often require longer marketing periods than more mainstream residential developments, so we structured the facility with a 21-month term to provide sufficient time for both construction and the eventual sale of the completed properties.
By taking a holistic approach rather than relying on a single measure of experience, we were able to structure funding that reflected the true strength of the opportunity.
Seeing the vision become reality
One of the most rewarding aspects of development finance is seeing projects evolve from planning illustrations into completed homes.
Our lending team visited Hall Grange during construction, providing an opportunity to see first-hand the quality of workmanship, attention to detail and progress being made across the development.
Walking the site made it easy to appreciate the ambition behind the project. From the quality of the materials and craftsmanship to the thoughtful design of each home, every aspect reflected the borrowers’ commitment to creating a development that complements its historic surroundings while delivering exceptional modern homes.
It’s clear this is an exceptional development. The quality of the build, attention to detail and setting are all impressive. While this represented the borrowers’ first ground-up residential development and involved high-value end units, it’s a project we’re proud to have supported. Seeing the vision become reality has been incredibly rewarding.”
Sara Nasralla (pictured), Head of Lending, CrowdProperty
The outcome
The project demonstrates that while previous development experience will always form part of a lending decision, it should never be viewed in isolation. Professional expertise, financial strength, careful preparation, personal commitment and the quality of the proposed scheme can all be equally powerful indicators of a project’s likelihood of success.
By taking the time to understand the wider opportunity, we were able to support experienced professionals in delivering an ambitious first residential development while maintaining an appropriate risk profile throughout.
This is a very impressive project and one we’re proud to be supporting. It’s clear the borrowers fully embraced the challenges of delivering a development of this scale, backing themselves through their own hard work, commitment and investment. They demonstrated real belief in the project from the outset, and that dedication is reflected in the quality of what’s been delivered. We wish them every success as the homes reach completion and are brought to market.
Steve Deutsch (pictured), CEO, CrowdProperty
Looking beyond development experience
Development finance often starts with the obvious metrics – previous projects, leverage and track record. Those factors will always matter, but the strongest lending decisions come from understanding the complete picture.
In the case of Hall Grange, that meant recognising experienced professionals with a clear vision, substantial personal commitment, conservative leverage and a carefully planned scheme. Together, those fundamentals created a compelling development opportunity.
Every project is different. Looking beyond a single characteristic allows lenders to make better-informed decisions and support developments that deserve to move forward.
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