Provisio has funded an award winning developer of high quality apartments for those selling large houses and wanting the feel of space and high quality finishes in their new home. This has proven a very successful model and many of the properties are in attractive semi-rural locations.
Each development was held in a SPV Limited Liability Partnership which Provisio controlled. The developer contributed 10% of the development and land cost and Provisio made a facility available for each site which was drawn-down in tranches by reference to a pre-agreed financial and project plan which was verified and monitored by Provisio appointed surveyor.
Provisio provide £6.00 million over five successful developments.