Funding secures major Essex property deal

An Essex-based property developer has secured funding to complete a key acquisition, paving the way for a major residential project in Brentwood, Essex.

Rainbird Group, a family-run property developer, has obtained a £600,000 funding deal from Reward Funding to acquire an adjacent commercial property to its existing site on Warescot Road.

The combined site will enable the creation of nine new apartments in the sought-after area. Rainbird is now seeking development partners to advance the project.

Established in 1972 and now in its third generation of ownership, Rainbird Group boasts a century-long legacy in residential development. The company recently completed a nearby scheme with a gross development value of £2 million.

Jonathan Rainbird, director of Rainbird Group, said: “The fast-paced and unpredictable nature of property development means that we always need to secure finance within a tight timeframe, so that we can capitalise on market opportunities such as the one at Warescot Road. 

“Reward has been extremely responsive, working closely to understand our business aims and put us in a financial position to complete the acquisition at speed.

“Having also secured planning approval on both buildings, we’re now receiving several offers from developers that we hope can realise our vision of transforming the scheme into a highly desirable apartment development in a much sought after area of Essex.”

The funding, brokered by Steve Beck of SJB Commercial Consulting Limited via Empire Finance, highlights Reward’s expertise in flexible asset-secured financing for entrepreneurs, opportunists and investors from across various sectors. Since being founded in 2010, the Leeds-headquartered finance provider has supported over 2,000 companies with over £1 billion in funding to date.

Shami Sharma, business development director for Reward Funding in the South East, added: “Rainbird Group has an impressive portfolio of successful build projects across Essex and a proven track record of unlocking residential development opportunities to meet market demand. 

“Helping this latest acquisition in Brentwood is a great example of our flexibility and speed of lending and our ability to provide an alternative finance solution that fills the increasing void left by traditional funding.

“It’s hugely satisfying to see Rainbird thrive and also be in a position as a lender to offer a lifeline to the vast number of businesses that are unfortunately missing out on growth opportunities due to a lack of working capital.”

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