Whitedrake was contacted by this SME housebuilder regarding their Minehead development. Despite having commenced construction, the client was facing challenges in selling the 69 units and had never successfully concluded a partnership deal. After understanding Whitedrake approach and more specifically the bespoke plan and structure Whitedrake would deploy, the client instructed us to secure a forward sale. Our objective was to swiftly identify a suitable institutional investor and deliver a streamlined transaction.
Client Inexperience & Pressure: The developer was under significant pressure for a swift resolution on a struggling site and had no prior experience with partnership deals, which raised concerns for potential institutional purchasers.
Accelerated Timelines: A primary challenge was achieving a rapid transaction from a cold start, needing to secure a buyer and exchange contracts within an ambitious timeframe to provide the developer with much-needed clarity on next steps.
Investor Confidence: Overcoming the institutional investor’s natural caution regarding a developer new to partnership structures, requiring direct and diligent relationship management.
Leveraging our established network, Whitedrake rapidly identified a large London based Institutional Investor, whose investment criteria precisely matched the Minehead opportunity. Our deep-seated relationship and proven credibility with this fund enabled immediate and effective engagement, ensuring their due diligence commenced swiftly despite the client’s lack of prior partnership experience.
Crucially, Whitedrake dedicated significant time to guiding the SME housebuilder through the complexities and nuances of a partnership deal, providing clarity and confidence throughout the process. This hands-on support, combined with our direct management of investor relations, was instrumental in addressing all concerns diligently and keeping the transaction on an accelerated path.
Whitedrake achieved an unprecedented speed of execution for this transaction:
This remarkable pace, particularly considering the client’s inexperience in partnership deals and the typical complexities involved, represents a significant achievement. The efficient progression from initial instruction to contract exchange underscored our commitment to delivering streamlined, value-driven outcomes.
As a direct result of this success and the trust established, the client immediately instructed Whitedrake on a further three sites, demonstrating the profound value and confidence our guidance and results provided.
The Minehead case study vividly demonstrates Whitedrake’s ability to navigate complex situations and deliver exceptional results under pressure. Our capacity to quickly match assets with suitable institutional capital, combined with our strategic guidance for clients new to partnership structures, consistently unlocks value and accelerates project timelines. This transaction not only provided a struggling SME housebuilder with a swift and lucrative exit but also forged a lasting partnership, further solidifying Whitedrake’s position as a trusted advisor in de-risking residential development.