Back to school in Blackburn
A mix of old and new, as we helped a local developer convert an unused school building and build new ground-up townhouses on the perimeter of the site.
We provided a senior development finance facility to a local property developer operating in Blackburn and Bolton.
We helped our client to convert a period schoolhouse into eight apartments, retaining the high ceilings to incorporate innovative mezzanine floors. We also funded construction of six new-build homes on the same site, opposite a recently completed residential development also funded by Atelier.
Gross Loan
£1.4M
Term
18 Months
LTV
60%
Units Created
14
Exit Method
Sales & Refinance
"This was a fantastic brownfield project and provided much needed housing sympathetic to the local area. The finished properties were modern yet homely, being set inside a traditional schoolhouse structure."
- Rebecca Nutt, Director of Portfolio Management
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