ASC Finance for Business has secured a £2 million development exit loan for Treverran Homes, enabling the continuation of a four-phase residential development in St Austell, Cornwall.

Treverran Homes, led by director David Angilley, initially purchased a former bus depot in 2017, with planning permission to build 24 houses and six flats. After securing approval for a revised plan, the project expanded to include 52 apartments across four blocks.

The development has progressed with the completion of the first block, funded by personal and family resources. As the second block neared completion, Angilley sought ASC’s assistance in securing a loan to finance the remaining work and repay existing loans. ASC secured a £2 million loan from Octane Capital, with the funds structured to be released in stages, reducing interest costs for the borrower.

To address concerns raised by an asset inspector during due diligence, a meeting was arranged between Angilley, his architect, and Octane’s senior management. The team successfully demonstrated the project’s potential profitability, ensuring the loan’s approval. To register your place at the UK’s biggest real estate and property festival, visit https://www.ukreiif.com/ukreiif-2025/.