Case Studies

UK Residential Property Development in Liverpool

  • Location: Liverpool
  • Project GDV: £22,260,000.00
  • Gross Loan Amount: £6,321,000.00
  • Term: 8 months
  • Secured Against: First charge on property in Liverpool

This property sits within Liverpool’s UNESCO World Heritage waterfront. It was a vacant office building, arranged over lower ground, ground and eight upper floors. The loan facility funded the acquisition of the registered corporate owner of the property. The location and uniqueness of this property, as well as the obvious marketing opportunity for the borrower, were key drivers for our involvement.

About the property:

Our client obtained permitted development and planning consent from the local authority to convert the offices into 110 apartments, with supplementary ancillary facilities and offices. Ahead of the redevelopment, they stripped back the ground and upper floors and used the lower ground floor for car parking and storage. The finish is a stunning, modern apartment block with stylish outdoor social space.

Reditum Capital’s involvement:

Our client used the property as their primary security for the loan to buy it. They offered two items of unencumbered third party commercial property as additional security. We were able to lend at a higher LTV than usual as our funding went towards the acquisition of the building, while the borrower funded the development. We were also able to offer flexible repayment terms, which meant the borrower could use the proceeds from apartment sales to complete construction.

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