Magnet Capital funds ‘best housing development’ in East Anglia

The development has also been nominated for the LABC National Award

Magnet Capital funds ‘best housing development’ in East Anglia

Magnet Capital has announced that its recent development at Low Street Glemsford, Suffolk, has been awarded the Local Building Control (LABC) Building Excellence Awards for East Anglia.

Consequently, the development has been nominated for the LABC National Award, the final of which will take place in London in January 2023.

The property development finance lender provided a 12-month facility of £456,000 for a two by three-bedroom bungalow scheme built by developer David Slater of DJ Slater Limited, a long-standing client of Magnet Capital. The project was completed within 12 months despite the limitations during the COVID-19 pandemic.

“We are delighted for David, who we have known for many years, and the award is a testament to the quality of his housing developments,” Sam Howard (pictured), co-chief executive at Magnet Capital, commented. “I visited the site personally numerous times during the 12 months of this project, so I knew it was a special development, but it is great he is getting the recognition for his work.

“This project was an excellent demonstration of our ability to work closely with the client and provide him with the funds he needed to complete the project as quickly as possible and to the highest quality.

“As a genuinely specialist development finance lender, we are laser focused on building long-standing relationships with our clients and proving time and again our added value. We wish David every success in the final of LABC National awards.”

Slater added that the success of the development project was a testament to the team they were fortunate enough to work alongside.

“A special thanks to Sam Howard of Magnet Capital, whose good relationship with myself, expert knowledge, advice, and lending support assured that every step of this development process met us with ease and total professionalism,” Slater remarked. “We highly commend Sam Howard and the team at Magnet Capital and look forward to working with them again in the future.”