Bolton-based, Landmark Development Solutions (LDS), the innovative residential development underwriting concept from Landmark Investments Group, has appointed Ian Barber as head of new business.
Ian has a long-established property background, most recently running Hunters flagship branch in Manchester. He will be working alongside CEO Mark Hawthorn in delivering this unique offering to developers.
Mark Hawthorn CEO of Landmark Investments comments: “This is a very important hire for LDS. We launched the company last year and have had a growing stream of interest from developers and lenders. Ian will ensure that in addition to managing the current and growing demand across the North West, we can drive the concept nationwide.
“Our main focus is on SME developers, typically developing 15-60 units per scheme or phase, with a GDV between £3million and £20million.
“We find this is a particular sweet spot as funding can be expensive and hard to come by due to the speculative nature of development. Our offering removes all pricing and demand risk changing the profile of the scheme enabling lenders and developers to confidently move ahead with new housing schemes.
“SME’s are generally experienced and highly capable, but without certainty over sales, it can be a leap of faith that both they and their lender are unwilling to take. LDS removes this uncertainty allowing developers to get on site and create more housing supply.”
LDS de-risks entire schemes, by underwriting sales, whist the developer retains the ability to sell at open market value and generate return. If there are unsold units at the end of the development, LDS will step in to complete ensuring the developer and their lenders a clean exit.
Ian Barber added: “I’m delighted to join LDS. The concept behind the solution is so unique it’s an incredibly exciting opportunity.
“With the government’s target to deliver 300,000 new homes a year, SME developers are the key to achieving this. believe that LDS will enable them to get their developments off the ground and move onto the next project efficiently.
“Speaking to developers, lenders and advisors, the initial view can be that the concept is too good to be true, but, after understanding as to how it works, all agree that it is market changing in its ability, and moreover, there is nothing comparable.
Concluded Mark: “We are currently active on a number of housing sites, in towns and suburbs across the North West, working with a range of construction companies, developers, local authorities and lenders.
“We have big plans for LDS, in addition to hiring Ian we are looking to appoint further senior hires in due course as we roll out nationwide.”