Roundtable

DFT roundtable: Aggressive business plans, development delays and managing expectations



Development Finance Today has launched its second filmed roundtable session, which discusses how unforeseen circumstances that can delay or halt property developments can be alleviated by innovative lending and dynamic attitudes from all parties in the transaction chain.

The DFT roundtable video can be viewed in full on the DFT Roundtables page.

The event — which took place on Friday 5th April at Watson Farley & Williams’ offices and was chaired by DFT editor Beth Fisher — was supported by Aldermore and Avamore Capital.

Simon Knowles, head of property development at Aldermore; and Zuhair Mirza, principal at Avamore Capital, explained why a developer might experience development delays and what lenders could do to mitigate against these issues.

Zuhair Mirza
Zuhair Mirza, principal at Avamore Capital

Simon Knowles
Simon Knowles, head of property development at Aldermore

Developers and brokers were also in attendance to offer their opinions and experiences in the current market, including Nicole Bremner, director at East Eight; Graeme Alfille-Cook, investment consultant at Apex Airspace; Adele Turton, director at Sirius Property Finance; and Matthew Cleave, director of structured finance at Arc & Co.

Roundtable

Ranjeev Kumar, partner at Watson Farley & Williams, also gave a legal perspective on amending and restructuring facility agreements as a result of cost overruns and delays.

The conversation took a deep dive into longer sales periods and the rise of developer exit products, increasing costs, planning issues and the types of schemes that are now less viable to fund.

The video can be viewed in full on the DFT Roundtables page.


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