Signature Property Finance has completed a £769,781 development loan to support the ground-up construction of a high-specification four-bedroom detached house in Box, Gloucestershire, delivering a high-quality family home in one of the Cotswolds’ most sought-after locations.
Introduced by Tom Benjamin of Sanctuary Financial, the deal demonstrates Signature’s commitment to supporting experienced family-run developers with well-structured plans, proven track records and strong local market knowledge.
Supporting quality development in the Cotswolds
The borrower, Cook Developments Ltd, is a family-run property development company with a successful history of renovation and new build projects across Gloucestershire. The company’s director has delivered multiple projects, including a profitable full renovation and a recent new build joint venture that sold for £675,000.
The land in Box was acquired by the borrower in 2022 and is held unencumbered, providing a strong foundation for the project. With planning permission already secured for a substantial four-bedroom family home spanning over 3,000 square feet, the development represents a significant opportunity in a high-value market.
Signature’s facility will fund 100% of the qualifying build costs of £646,812, released via drawdowns in arrears of works completed and certified by the monitoring surveyor. Set at 80% loan-to-cost and 55% loan-to-GDV, the facility strikes a balance between strong borrower support and sensible risk controls.
Quality specification in a prime location
Box sits in the heart of the Cotswolds, an Area of Outstanding Natural Beauty known for its picturesque views and desirable rural lifestyle. The property benefits from excellent connectivity, positioned just 13 miles from Cirencester and 18 miles from Cheltenham, with the M5 motorway only eight miles away.
The proposed accommodation includes four bedrooms, three with en-suites, across three floors, alongside a double garage, study and generous living spaces including kitchen, dining room and living room. High-specification features include solar panels, underfloor heating and modern fixtures throughout, designed to appeal to the premium family market in the area.
The main contractor is a family-run construction company with over 40 years of experience delivering everything from renovations to new build houses. With a proven track record of high-quality work in the region and close family ties to the borrower, the project benefits from experienced hands and strong local knowledge.
Strong market fundamentals and clear exit
The Cotswolds property market continues to show strength, with recent sales of comparable four-bedroom detached houses in the area ranging between £948,000 and £1.4 million. The GDV of £1.2 million has been independently verified and sits comfortably within this range, reflecting the property’s modern specification and substantial floor area.
The 20-month term provides ample time to complete the development and achieve the primary exit via open market sale. With robust comparables supporting the valuation and strong demand for quality family homes in the area, the exit strategy is well-founded.
Tom Benjamin of Sanctuary Financial commented: “It’s refreshing to work with a lender who truly understands family-run developers and the value they bring to local housing markets. Tom and the Signature team moved quickly to support this well-conceived project, providing the certainty of funding that allows developers to focus on delivery.
“The structured drawdown approach, releasing 100% of works in arrears, gives the borrower the financial support they need while maintaining momentum on site. This is exactly the type of collaborative approach that helps quality developments get built.”
Tom Howells, COO at Signature Property Finance, said: “This is a textbook example of a well-prepared development proposal. We’re backing an experienced family team with a proven track record, delivering a high-specification home in a strong market.
“The Cotswolds continues to attract buyers seeking quality family accommodation in beautiful surroundings and this development ticks all the boxes. With sensible leverage, experienced contractors and a clear exit strategy, we’re confident in supporting Cook Developments to bring this project to fruition.
“Supporting family businesses that understand their local markets and deliver quality housing is exactly what we’re here to do. This deal represents the kind of partnership approach that ensures successful outcomes for all parties.”