Diamond Magazine
Showcase your business Businesses will have a unique opportunity to be in the limelight when the inaugural Gatwick Business Show is staged next year. Taking place at the Felbridge Hotel and Spa in East Grinstead, the event promises to bring together key influencers and decision makers with ambitious local businesses looking to grow. The show is the brainchild of Mike Monk, a veteran marketing expert and the founder of the Brighton and Hove Business Show which is in its third year. He will stage the event in partnership with Gatwick Diamond Business. Stands will be limited to 50 for the 2024 event, being held on Thursday, October 17. Bookings have opened and stand choices will be on a first-come, first-
served basis. Mike said: "There will be guest speakers and workshops during the day and we hope to create a real buzz about businesses in the Gatwick area. "The event is designed to ensure making new connections is effortless. It will also be very useful for generating leads and throwing the spotlight on businesses that have relevant products and services to offer. "It is a suitable platform for both established and new brands." A spokesperson for Gatwick Diamond Business said: “We are delighted to partner with Mike to bring the event to fruition. We believe it will deliver real benefits to both those who take part and the local economy.” The Gatwick Business Show will run from 10am to 3pm. Free parking will be available for both exhibitors and
visitors. Visitor registrations will open nearer Benefits Book the time. YOUR Connect with influencers & industry leaders Sponsorship opportunities STAND Build your brand effortlessly Network with potential clients areAll-day available now. Sponsors and lead potential with workshops, seminars more exhibitors will &receive extensive marketing exposure in the run-up to the event as well as after, ensuring it Contact Mike Monk on 07885 490266 delivers excellent value for money. If you want to get involved with Gatwick Business Show, visit www.brightonandhovebusinessshow.uk or email mike@brightonandhovebusinessshow.uk THURSDAY 17 OCTOBER 10AM TO 3PM
FELBRIDGE HOTEL & SPA LONDON ROAD EAST GRINSTEAD RH19 2BH
A guide to development finance What is development finance? Development facilities involve providing a loan to the borrower for the purpose of acquiring and developing a property. The loan is secured by the property itself and the developers rights under the construction documents. The lender will carry out thorough due diligence on the property and the planned development before funding is granted. The lender will consider: • The value of the site • The cost of the development • The exit strategy What is the legal process for a development finance transaction?
Once you have obtained a loan offer from the lender, lawyers need to be appointed. Once both parties are legally represented, the legal process can begin. The lenders lawyers will present the borrowers lawyers with the conditions precedent (CPs). The CPs outline the conditions that the borrower must satisfy before the borrower can request drawdown of the loan and the lender is obliged to make the funds available to the borrower. Standard CPs include: • A satisfactory report on title • Valuations and surveys • Discharges of existing security • Letter/certificate of non-crystallisation of floating charges • Land registry searches • Insurance • Borrowers lawyers undertakings
repayment. Even if a lender obtains a court order for the amount owed by the borrower, it does not guarantee repayment. In a typical development finance transaction, we often see the lender take out security provisions. This security is usually contained within an all-assets debenture given by the borrower.
What security will the lender require? The focus for the lender is to ensure
www.lewisdenley.com/insights/a-guideto-development-finance
Lewis Denley Solicitors’ advice The legal process and security involved in a development finance transaction is often complex and prolonged. Having an experienced lawyer to handle the process on your behalf will help expedite the matter. Please do not hesitate to get in contact with our Commercial Property team if you would like Lewis Denley to assist and advise on your development finance matter.
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