Land with Residential Planning Permission

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 500 build to rent units in the heart of Newcastle upon Tyne.

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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.

Gross Loan

£5.3M

Term

12 Months

LTV

70%

Units Created

525

Exit Method

Refinance

We were delighted to assist the borrower acquire a landmark site on the River Tyne in Newcastle, with consent for 500 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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