LandOxfordshire
£8.75m
41-acre strategic site with resolution to grant. Senior, interest fully deferred, further tranche on decision notice.
Issue — no consent at exchange.
What we fund
Land positions we fund
Eight positions we place most often. If the site is UK land and the facility is £2m or above, send it over.
01
Unconditional purchase of land with no planning consent
02
Sites with a resolution to grant awaiting the decision notice
03
Acquisition of option and promotion agreement interests
04
Strategic land held for a five to fifteen year horizon
05
Serviced land, infrastructure and enabling works
06
Section 106 and CIL payment funding
07
Refinance of a land bank onto a single facility
08
Equity release from land held unencumbered
Structures
Structures we place
A starting point, not a menu. The structure follows the planning position and the evidenced exit.
Senior
55–65% of current site value, interest fully or partly deferred to redemption, term of 12 to 36 months.
Stretch senior
Up to 70% where a second charge, corporate guarantee or additional security is available.
Milestone tranches
Further advances released on issue of the decision notice, discharge of pre-commencement conditions or reserved matters approval.
JV and preferred equity
Introduced where the equity requirement exceeds sponsor capacity, alongside or in place of mezzanine.
Underwriting
What lenders test
The three things credit teams press hardest on land. Getting these evidenced up front is most of the work.
Planning position, not hope value
Lenders advance against current value with consent risk priced in. A resolution to grant, an officer recommendation or an allocation in the local plan moves pricing materially; a bare hope-value argument does not.
An evidenced exit
Sale to a housebuilder, a promotion agreement, an onward development facility or refinance onto senior development debt. Credit wants correspondence, agent advice or heads of terms, not intent.
Interest cover from roll-up
Land does not produce income, so interest is deferred and serviced at redemption. The deferred amount is stress-tested against the exit value and the day-one LTV set accordingly.
Track record
Selected land transactions
LandSurrey
£4.2m
Acquisition of a promotion agreement interest over 96 acres, senior at 58% of assessed value.
Issue — value dependent on a third-party promoter timetable.
General locations, clients unnamed. Completed facility sizes, illustrative only — not an indication of terms available to you.
Questions
Common questions
General information on how these facilities are structured and placed. Not advice, and not an indication of terms.
Can you fund land with no planning consent?
Yes. Most of our land instructions are unconditional purchases before consent. Lenders advance against current value rather than consented value, typically 55–65%, with interest deferred to redemption.
How is interest handled when land produces no income?
Interest is normally rolled up or fully deferred and paid at redemption from the exit. The rolled amount is included in the facility and stress-tested against the exit value.
What is the minimum facility size?
£2m. Below that, Aura Capital handles bridging and development enquiries on the main site.
How quickly can indicative terms be issued?
Typically 24 hours from receiving the site details, planning position and evidenced exit. Formal offers follow valuation and credit.
Enquire
Send us the site
Site address in general terms, planning position, price and intended exit is enough for a first view. A senior advisor replies directly.
Direct line
+44 (0)20 [ 0000 0000 ]
Also