Our client had recently taken control of the family farms and wanted to improve their revenue. We provided funds secured on the main farm to
- Secure the opportunistic purchase of four cottages that were modernised and then let out
- Gain planning permission to convert a small pond back to a stone quarry
- Modernise the farm buildings
- Introduce a herd of pedigree cattle.
Together these increased the value of the farms and our client has just raised further funds to develop a unique feed technology on the back of the valuation uplift and is in the process of selling shares to investors in that business.
UKAF was able to move quickly and adapt its loan documentation to reflect the change in control of the farm to protect all concerned, but allow provide the funds quickly enough to secure the initial cottages.