Century Capital

Century Capital supports purchase of airport site

Century Capital has provided funding to allow a client to purchase part of a private airport.

The client plans to set up a flying school at the airport to train new commercial pilots and store private aircrafts.

The client had exchanged with a several-million-pound deposit and was under notice to complete the purchase.

Following complications in attempting to raise funds from a residential asset in central London, Century provided a loan secured against the airport asset at 65% LTV.

Paul Munford, CEO at Century Capital, said: “We are extremely pleased to have been able to help this client out of a difficult situation.

“This is a great demonstration of Century’s versatility and ability to deliver fast and flexible short-term finance.”

This latest deal comes as the bridging lender continues to expand its team after appointing Gareth Tormajer as a regional business development manager for the South.

He has nearly 25 years of experience in the financial services industry, having previously worked for Nottingham Building Society and West Bromwich Building Society.

Century Capital has also appointed Holly O’Brien as its head of marketing.

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