Reward backs N. Yorks property development with 6-fig facility
Reward Funding has provided a six figure facility for Dusk Property Ltd, supporting the acquisition of development land in the Boroughbridge area and enabling plans for two new residential plots.
Introduced by experienced broker Tim Wilde from BSH Consulting, the facility has been structured to support the purchase of the site following approval of the Reserved Matters planning permission. Reward will provide the acquisition funding, alongside additional business investment from the client.
Dusk Property Ltd is a new venture led by Adam Cliff. Adam has a building surveying background and has already completed and sold three successful development ventures over the last five years, with the support of his father, Andrew Cliff.
Andrew is an experienced chartered building surveyor and property developer and is a highly regarded figure in the Leeds professional network. He has worked alongside Reward on a number of previous transactions, providing professional advice and appraisals on projects funded by the business and it was this trusted pre-existing relationship that helped to introduce the deal, with Reward’s track record securing it.
The latest facility is a bridging solution, allowing the business to move quickly and secure the site. It also enables the client to progress to a longer-term, bespoke development funding structure.
This transaction reflects a growing trend we are seeing across the property market, where developers are increasingly seeking flexible short-term funding solutions to secure opportunities that require speed.
Adam Cliff, director at Dusk Property, said: “We had a strong opportunity arise, so timing and speed were two very important factors for us with this project.
“We know how Reward operates and had the confidence that they would be able to deliver what we needed, when we needed it. Having worked with the team previously, there was an established level of trust and understanding which helped to make the process straightforward and efficient.”
Antony Cope, client relationship manager at Reward Funding, added: “This deal is a great example of how strong relationships can help to create better outcomes. Experienced property developers are increasingly looking for funding partners that can access opportunities quickly and provide certainty around delivery. Pair with this the increased need for flexibility that we are seeing from more clients, and it really brings to light why a funding partner that can move decisively when timing matters is key.”
The facility further strengthens the relationship between Reward Funding and Dusk Property Ltd, with the business expected to continue its growth journey and return for future projects.