Ambitious firms should plan to seize opportunities

David Bridgen, Senior Manager, North West, Property, Lloyds Bank Commercial Banking comments on the regional property market.

A recent survey by estate agents, Colliers, revealed that property investment in the North West rose by 84% to £746m during Q1 2015 .

This places developers and property investors across the region in a great position to seize new business opportunities, especially with the Government’s commitment to creating a ‘northern powerhouse’, which has already heightened the North West’s profile in the UK and overseas.

Construction is a major contributor to UK GDP, and an important driver of growth for other sectors. This year could prove prosperous for ambitious firms looking for new construction and supply chain opportunities, and there is plenty of support on offer to help them do this.

In order to capitalise on opportunities when they appear, having the correct form of funding is vital, initiatives such as the Government-backed Funding for Lending Scheme enables firms to receive discounted lending.

We have created specialist property teams across the country who can make informed decisions for firms in the sector, and who can offer individual lending packages, from standard investment financing to more complex development and structured funding.

This can include funding for house building opportunities, purchasing construction materials, investing in new real estate or social housing opportunities as they arise, or simply providing more cash flow to a business during busy work periods.

In 2015, the property and construction sectors will be a key factor in ensuring that the region’s economic recovery continues. It is important that companies work closely with external advisors and their finance provider to capitalise on these opportunities and reap the subsequent benefits.

By making an early investment, North West firms may be able to get ahead of the game.

Any property given as security, which may include your home, may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it.

Colliers International -Report published April 2014

All lending is subject to a satisfactory credit assessment.