Specialist development finance provider Beaufort Capital exceeded £150m in new lending in the last quarter of 2023 and following a strong start to this year is targeting £500m in new lending for 2024.
The projects funded in Q4 2023 had a combined GDV of more than £300m and included purpose-built accommodation schemes in Birmingham, Southampton and Edinburgh; the development of four self-storage facilities with a new client; and a light industrial joint venture strategy with an existing client.
Joe Flaherty, director at Beaufort Capital, said: “We are delighted to be working with such a range of accomplished and highly-experienced developers and are excited to be funding much needed quality and sustainable developments across the UK.”
Mark Quigley, managing director of Beaufort Capital, added: “It has been a great end to last year and a wonderful start to the new year and with more transactions in legals we’re anticipating a very strong first quarter. It is pleasing to being able to support long-standing clients whilst at the same time bringing new borrowers into the Beaufort Capital fold. The self-storage portfolio deal was of particular note for being our first time lending into that specific sector and therefore widening our lending experience further still.”
Earlier this month, the company completed the off-market purchase of a 60,000 sq ft industrial and warehouse complex on Alma Park Grantham as part of a new £50m joint venture with Marchdown Holdings. The joint venture was set up to acquire multi-let industrial estates requiring active management, repositioning and refurbishment.
In addition to light industrial, PBSA and self-storage, Beaufort’s lending and investment activities extend to opportunities in residential development, BTR, retirement living, care and hospitality.
