Acquisition of strategic landmark site in Newcastle
We provided a £5.3m bridge facility to acquire a landmark riverside site with residential planning permission for 525 build to rent units in the heart of Newcastle upon Tyne.
We assisted a corporate client acquire a strategic site to enable the next stage in a program of development and renewal in this key northern city. The facility provides the borrower with time to address pre-commencement conditions and the funding of what will be a £100m apartment scheme.
"We were delighted to assist the borrower acquire a landmark site on the River Tyne in Newcastle, with consent for 525 new apartments. The site is a former pottery so both the borrowers and Ateliers professional teams worked in partnership on the environmental diligence to ensure a safe and swift completion."
- Anthony Dobinson, Senior Investment Manager
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